https://www.taxtmi.com/caselaws?id=23957 A bona fide change in an assessee's method of accounting from mercantile to cash basis may be permitted where protective conditions are imposed to prevent loss of revenue or double taxation. The High Court found no error in the Tribunal's approach and held that the change was allowable because no violation of the Companies Act, 1956 was established. The reference was answered in favour of the assessee. en-us Fri, 03 Mar 1989 00:00:00 +0530 Fri, 15 Jan 2010 14:21:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23957 A bona fide change in an assessee's method of accounting from mercantile to cash basis may be permitted where protective conditions are imposed to prevent loss of revenue or double taxation. The High Court found no error in the Tribunal's approach and held that the change was allowable because no violation of the Companies Act, 1956 was established. The reference was answered in favour of the assessee. Case-Laws Income Tax Fri, 03 Mar 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23957