https://www.taxtmi.com/caselaws?id=400186 The High Court upheld the Tribunal's decision, ruling that the cash system of accounting followed by the investment company did not require application of the matching principle. The Court emphasized that revenue authorities cannot interfere with business decisions unless arbitrary or for tax evasion. The appeal by the revenue was dismissed, with the Court finding no substantial legal questions. The judgment was consistent with previous decisions involving the assessee, and no costs were awarded. en-us Thu, 15 Oct 2020 00:00:00 +0530 Fri, 30 Oct 2020 11:22:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400186 The High Court upheld the Tribunal's decision, ruling that the cash system of accounting followed by the investment company did not require application of the matching principle. The Court emphasized that revenue authorities cannot interfere with business decisions unless arbitrary or for tax evasion. The appeal by the revenue was dismissed, with the Court finding no substantial legal questions. The judgment was consistent with previous decisions involving the assessee, and no costs were awarded. Case-Laws Income Tax Thu, 15 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400186