https://www.taxtmi.com/caselaws?id=58620 The tribunal allowed the assessee's claim for expenditure, holding that the method of accounting was not relevant as no income had accrued during the assessment year. The tribunal rejected the investment allowance claim on new machinery but upheld the allocation of expenses between incomplete projects and other business activities. The tribunal criticized the hybrid accounting system as impractical and found the motive behind it to be tax avoidance rather than legitimate business concerns. en-us Wed, 27 Feb 1991 00:00:00 +0530 Mon, 20 Dec 2010 18:41:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58620 The tribunal allowed the assessee's claim for expenditure, holding that the method of accounting was not relevant as no income had accrued during the assessment year. The tribunal rejected the investment allowance claim on new machinery but upheld the allocation of expenses between incomplete projects and other business activities. The tribunal criticized the hybrid accounting system as impractical and found the motive behind it to be tax avoidance rather than legitimate business concerns. Case-Laws Income Tax Wed, 27 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58620