https://www.taxtmi.com/caselaws?id=21853 The High Court ruled against the assessees, upholding the assessments made under section 143(3) read with section 143(2)(a) based on the original returns for the assessment year 1975-76. The Court found that the assessees, who maintained accounts on a "mercantile basis," could not justify filing revised returns on a "receipt basis" after initially disclosing rental income. The Income-tax Officer was directed to proceed with the assessments as per the original returns, favoring the Revenue. en-us Thu, 05 Sep 1991 00:00:00 +0530 Wed, 02 Dec 2009 12:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21853 The High Court ruled against the assessees, upholding the assessments made under section 143(3) read with section 143(2)(a) based on the original returns for the assessment year 1975-76. The Court found that the assessees, who maintained accounts on a "mercantile basis," could not justify filing revised returns on a "receipt basis" after initially disclosing rental income. The Income-tax Officer was directed to proceed with the assessments as per the original returns, favoring the Revenue. Case-Laws Income Tax Thu, 05 Sep 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21853