https://www.taxtmi.com/caselaws?id=19013 The court allowed the petitioner, a public limited company, to change its accounting year to align with a circular issued by the Central Board of Direct Taxes. The respondent's denial based on revenue concerns and allegations of fraudulent claims was deemed unreasonable. The court found no concealment of income particulars, emphasizing that the change would not result in revenue loss. It criticized the respondent's reliance on past permissions and lack of concrete evidence. The court directed the respondent to permit the change without penalties, setting aside the initial rejection. en-us Thu, 01 Dec 1994 00:00:00 +0530 Tue, 03 Nov 2009 13:32:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19013 The court allowed the petitioner, a public limited company, to change its accounting year to align with a circular issued by the Central Board of Direct Taxes. The respondent's denial based on revenue concerns and allegations of fraudulent claims was deemed unreasonable. The court found no concealment of income particulars, emphasizing that the change would not result in revenue loss. It criticized the respondent's reliance on past permissions and lack of concrete evidence. The court directed the respondent to permit the change without penalties, setting aside the initial rejection. Case-Laws Income Tax Thu, 01 Dec 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19013