https://www.taxtmi.com/caselaws?id=28976 The High Court affirmed the Tribunal's decision, holding that the assessee was not entitled to change its method of accounting from mercantile to cash basis for interest income in the relevant assessment year. The court emphasized the need for regularity and bona fides in such changes and noted the absence of formal resolutions or sufficient evidence to support the change. The question referred was answered in the affirmative and in favor of the Revenue. en-us Fri, 27 Nov 1981 00:00:00 +0530 Fri, 16 Sep 2016 10:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28976 The High Court affirmed the Tribunal's decision, holding that the assessee was not entitled to change its method of accounting from mercantile to cash basis for interest income in the relevant assessment year. The court emphasized the need for regularity and bona fides in such changes and noted the absence of formal resolutions or sufficient evidence to support the change. The question referred was answered in the affirmative and in favor of the Revenue. Case-Laws Income Tax Fri, 27 Nov 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28976