https://www.taxtmi.com/caselaws?id=57624 The Commissioner (Appeals) ruled in favor of the assessee, allowing the change in accounting method from mercantile to a mixed system and disallowing freight charges. The Tribunal upheld this decision, accepting the hybrid accounting system and emphasizing the need to determine true profits. The Tribunal highlighted the importance of consistency in accounting methods and adjustments under section 145(1) of the Income-tax Act. Ultimately, the Tribunal dismissed the revenue's appeal, affirming the validity of the accounting method change and the assessee's reasons for it. en-us Mon, 29 Apr 1985 00:00:00 +0530 Sat, 11 Dec 2010 11:57:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57624 The Commissioner (Appeals) ruled in favor of the assessee, allowing the change in accounting method from mercantile to a mixed system and disallowing freight charges. The Tribunal upheld this decision, accepting the hybrid accounting system and emphasizing the need to determine true profits. The Tribunal highlighted the importance of consistency in accounting methods and adjustments under section 145(1) of the Income-tax Act. Ultimately, the Tribunal dismissed the revenue's appeal, affirming the validity of the accounting method change and the assessee's reasons for it. Case-Laws Income Tax Mon, 29 Apr 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57624