https://www.taxtmi.com/caselaws?id=38102 The Court directed the Tribunal to reassess whether interest on a loan should be included in the assessment for the year 1970-71, emphasizing the taxpayer's ability to adjust affairs to reduce tax burden lawfully. The Court disagreed with the view that the assessee cannot unilaterally change the method of accounting and found that crucial facts were overlooked. The case was disposed of without answering the question, with no order as to costs, stressing the importance of accurate interpretation of accounting methods in tax assessments. en-us Wed, 22 Mar 1978 00:00:00 +0530 Sat, 03 Apr 2010 12:06:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38102 The Court directed the Tribunal to reassess whether interest on a loan should be included in the assessment for the year 1970-71, emphasizing the taxpayer's ability to adjust affairs to reduce tax burden lawfully. The Court disagreed with the view that the assessee cannot unilaterally change the method of accounting and found that crucial facts were overlooked. The case was disposed of without answering the question, with no order as to costs, stressing the importance of accurate interpretation of accounting methods in tax assessments. Case-Laws Income Tax Wed, 22 Mar 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38102