https://www.taxtmi.com/caselaws?id=790253 Construction and incremental expenses were treated as deductible on accrual basis even though the corresponding sale receipts were recognised on receipt basis, because the accounting method reflected accepted commercial practice and no defect in estimation or legal bar was shown. Depreciation on cinematograph films was also allowed in a sale and leaseback arrangement, since the transaction was supported by documentation, cheque payment and transfer of title, and suspicion alone could not establish a sham or colourable device. The article states that, on these facts, the tax appeals failed and the findings in favour of the assessee remained undisturbed. en-us Mon, 20 Apr 2026 00:00:00 +0530 Wed, 22 Apr 2026 08:47:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790253 Construction and incremental expenses were treated as deductible on accrual basis even though the corresponding sale receipts were recognised on receipt basis, because the accounting method reflected accepted commercial practice and no defect in estimation or legal bar was shown. Depreciation on cinematograph films was also allowed in a sale and leaseback arrangement, since the transaction was supported by documentation, cheque payment and transfer of title, and suspicion alone could not establish a sham or colourable device. The article states that, on these facts, the tax appeals failed and the findings in favour of the assessee remained undisturbed. Case-Laws Income Tax Mon, 20 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790253