https://www.taxtmi.com/acts?id=48356 Substitution of section 145 prescribes that income under business/profession or other sources shall be computed in accordance with either the cash system or the mercantile system of accounting regularly employed by the assessee; the Central Government may notify accounting standards for classes of assessees or income; and where the Assessing Officer is not satisfied about account correctness/completeness or regular adherence to the method or standards, the Assessing Officer may make an assessment in the manner provided by the assessment provision. en-us Fri, 31 Jan 2025 14:40:38 +0530 Fri, 31 Jan 2025 14:40:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=48356 Substitution of section 145 prescribes that income under business/profession or other sources shall be computed in accordance with either the cash system or the mercantile system of accounting regularly employed by the assessee; the Central Government may notify accounting standards for classes of assessees or income; and where the Assessing Officer is not satisfied about account correctness/completeness or regular adherence to the method or standards, the Assessing Officer may make an assessment in the manner provided by the assessment provision. Act-Rules F. Acts / Amendment Acts Fri, 31 Jan 2025 14:40:38 +0530 https://www.taxtmi.com/acts?id=48356