https://www.taxtmi.com/caselaws?id=27276 The High Court of Andhra Pradesh ruled in favor of the assessee, holding that accrued dividends on vacant chits and arrears were not assessable in the years of their occurrence. The court emphasized the importance of respecting the assessee's consistent accounting practices unless the ITO can prove inherent defects leading to incorrect profit calculation. The judgment favored maintaining the company's established method of accounting for dividend income. en-us Wed, 13 Jun 1984 00:00:00 +0530 Thu, 11 Feb 2010 17:40:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27276 The High Court of Andhra Pradesh ruled in favor of the assessee, holding that accrued dividends on vacant chits and arrears were not assessable in the years of their occurrence. The court emphasized the importance of respecting the assessee's consistent accounting practices unless the ITO can prove inherent defects leading to incorrect profit calculation. The judgment favored maintaining the company's established method of accounting for dividend income. Case-Laws Income Tax Wed, 13 Jun 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27276