https://www.taxtmi.com/caselaws?id=28691 The High Court of Allahabad addressed an Income-tax Appellate Tribunal reference for the assessment year 1968-69. The court emphasized the importance of bona fides in accounting system changes, ruling that the assessee's switch from accrual to cash basis for royalty income lacked proper assessment of bona fides. The court refrained from deciding on the permissibility of the switch, leaving it for the Tribunal to reevaluate. The court did not provide a definitive answer on the maintainability of a single application for multiple assessment years. Ultimately, each party was responsible for their own costs in this case. en-us Tue, 23 Nov 1982 00:00:00 +0530 Wed, 24 Feb 2010 18:35:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28691 The High Court of Allahabad addressed an Income-tax Appellate Tribunal reference for the assessment year 1968-69. The court emphasized the importance of bona fides in accounting system changes, ruling that the assessee's switch from accrual to cash basis for royalty income lacked proper assessment of bona fides. The court refrained from deciding on the permissibility of the switch, leaving it for the Tribunal to reevaluate. The court did not provide a definitive answer on the maintainability of a single application for multiple assessment years. Ultimately, each party was responsible for their own costs in this case. Case-Laws Income Tax Tue, 23 Nov 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28691