https://www.taxtmi.com/caselaws?id=19902 The High Court upheld the Tribunal's decision in favor of a firm of advocates, dismissing the Revenue's applications. It found that the firm's cash system of accounting, where money received from clients was credited to clients' accounts, did not aim to reduce income. The Court emphasized the fiduciary nature of the advocate-client relationship and accepted the method as consistent with Bar Council rules. Additionally, it determined that the firm acted as a trustee for clients' money, leading to the deletion of additions to the firm's income and rejecting the Revenue's request to refer questions to the High Court. en-us Wed, 15 Sep 1993 00:00:00 +0530 Tue, 10 Nov 2009 14:15:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19902 The High Court upheld the Tribunal's decision in favor of a firm of advocates, dismissing the Revenue's applications. It found that the firm's cash system of accounting, where money received from clients was credited to clients' accounts, did not aim to reduce income. The Court emphasized the fiduciary nature of the advocate-client relationship and accepted the method as consistent with Bar Council rules. Additionally, it determined that the firm acted as a trustee for clients' money, leading to the deletion of additions to the firm's income and rejecting the Revenue's request to refer questions to the High Court. Case-Laws Income Tax Wed, 15 Sep 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19902