Cit Vs. Sama Textiles and Industries Ltd.

counsels: b. b. naik for manish r. bhatt, for the revenue head note: income tax appeal (high court)--substantial quesiton of lawaccounting method--change catch note: in view of finding given by tribunal that change in method of accounting was bona fide and consistently followed in subsequent years and addition made on account of change in method of accounting by invoking provisions of section 145 was to be deleted, no substantial question of law arose and so the appeal was dismissed. ratio: in view of finding given by tribunal that change in method of accounting was bona fide and consistently followed in subsequent years and addition made on account of change in method of accounting by invoking provisions of section 145 was to be deleted, no substantial question of law arose and so the appeal was dismissed. held: special leave petition filed by the department against this judgment has been dismissed by the supreme court. (2001) 252 itr (st.) 60 application: also to current assessment year. decision: appeal dismissed. income tax act 1961 s.260a income tax act 1961 s.145 in the gujarat high court j.m. panchal & m.s. shah, jj. - - is not clearly applicable to the facts of the present case ?' in view of the finding given by the tribunal that the change in the method of accounting was bona fide and consistently followed in the subsequent years, no substantial questions of law arise in this appeal.m. s. shah, j.in this appeal, the revenue has proposed the following substantial questions of law for our consideration :'(1) whether, the appellate tribunal is right in law and on facts in deleting the addition of rs. 11,73,876 made on account of change of method of accounting by invoking the provisions of section 145 of the act ?(2) whether, the ratio of the decision of the supreme court in the case of mcdowell and co. is not clearly applicable to the facts of the present case ?'in view of the finding given by the tribunal that the change in the method of accounting was bona fide and consistently followed in the subsequent years, no substantial questions of law arise in this appeal. the appeal is, therefore, summarily dismissed.