https://www.taxtmi.com/caselaws?id=60496 The Tribunal allowed the appeals, directing the deletion of the additions of Rs. 44,90,434 and Rs. 25,42,968. It held that the assessee's hybrid system of accounting, recognizing interest income on a cash basis while maintaining accrual for expenses, was acceptable. The change was deemed bona fide, regularly followed, and provided a realistic picture of the company's financial position. The Tribunal emphasized the importance of consistent application of the new method for a true determination of profits. en-us Tue, 27 Aug 1996 00:00:00 +0530 Wed, 05 Jan 2011 15:57:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60496 The Tribunal allowed the appeals, directing the deletion of the additions of Rs. 44,90,434 and Rs. 25,42,968. It held that the assessee's hybrid system of accounting, recognizing interest income on a cash basis while maintaining accrual for expenses, was acceptable. The change was deemed bona fide, regularly followed, and provided a realistic picture of the company's financial position. The Tribunal emphasized the importance of consistent application of the new method for a true determination of profits. Case-Laws Income Tax Tue, 27 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60496