https://www.taxtmi.com/caselaws?id=790253 Construction and incremental expenses may be claimed on an accrual basis where the corresponding flat-sale income is recognised on receipt basis, provided the accounting method follows accepted commercial practice, sale consideration is credited at booking, and no specific defect in estimated expenditure is established. Depreciation on cinematograph films acquired through a sale-and-leaseback arrangement remains available where lease documents, cheque payments and transfer of title support commercial genuineness. Suspicion arising from the transaction sequence alone does not establish a sham, nominal or unlawful arrangement, and cannot justify disallowance without material evidence of a colourable device. 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 may be claimed on an accrual basis where the corresponding flat-sale income is recognised on receipt basis, provided the accounting method follows accepted commercial practice, sale consideration is credited at booking, and no specific defect in estimated expenditure is established. Depreciation on cinematograph films acquired through a sale-and-leaseback arrangement remains available where lease documents, cheque payments and transfer of title support commercial genuineness. Suspicion arising from the transaction sequence alone does not establish a sham, nominal or unlawful arrangement, and cannot justify disallowance without material evidence of a colourable device. Case-Laws Income Tax Mon, 20 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790253