Cash Method - Judgment Search Results

Kisan Discretionary Family Trust Vs. Assistant Commissioner of Income

Court: Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in: (2008)113TTJ(Ahd.)918

..... under 3 1 so far as the claim that the appellant s method of accounting is cash method and not mercantile method of accounting is concerned i observe from the submissions of the appellant ..... accounting in other words what revenue trying to do is to foist a mixed method of accounting cash method of accounting for all transactions other than disputed transactions which revenue states appellant must .....

United States Vs. Catto

Court: US Supreme Court

..... may legitimately refuse to acquiesce in the transition by ranchers from the accrual method to the cash method of accounting the commissioner is not of course obliged to permit taxpayers to ..... raising their livestock the respondents desire to shift from the unit livestock price accrual method to the cash method for their breeding livestock is therefore divorced from the sole rationale for which .....

N.M. Shah Vs. Second Wealth-tax Officer

Court: Income Tax Appellate Tribunal ITAT Mumbai

Reported in: (1982)1ITD244(Mum.)

..... in any of the three recognised methods of accounting namely 7 mercantile method 2 cash method and 3 hybrid method whatever method is followed the accounts will ..... that balance sheet of a person maintaining his accounts on cash method of accounting will show on the left hand side his ..... right hand side as the case may be in the cash method of accounting therefore the assets shown on the assets side .....

Willard India Ltd. Vs. Deputy Commissioner of Income

Court: Income Tax Appellate Tribunal ITAT Delhi

..... mercantile system of accounting in respect of other income and expenditure but continued to follow cash method of accounting with regard to bonus liability though with the introduction of the payment of ..... ito disallowed the claim for provision on the ground that the assessee was following the cash method for payment of bonus on appeal the aac relying on the supreme court decision in .....

United Phosphorus Limited Vs. Joint Cit

Court: Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in: (2001)73TTJ(Ahd.)404

..... disclosed by the assessee did not reflect the true profits the assessing officer rejected the cash method adopted by the assessee and assessed the value of these benefits on accrual basis the ..... commissioner appeals accepted the cash method of accounting followed by the assessee in relation to export incentives on further appeal by .....

Deputy Commissioner of Income Tax Vs. Glaxo Smithkline Consumer

Court: Income Tax Appellate Tribunal ITAT Chandigarh

Reported in: (2007)107ITD343(Chd.)

..... this means in respect of deducting those sums the it act provides only one method of accounting i e cash method therefore the accrual system and consequently the accrual of liability or incurring of ..... compute the profits and gains of business of an assessee in accordance with the method of accounting cash or mercantile regularly employed by the assessee under the mercantile system of accounting the .....

Willard India Ltd. Vs. Deputy Commissioner of Income Tax. (Dy. Cit V. ...

Court: Delhi

Reported in: (1997)58TTJ(Del)369

..... mercantile system of accounting in respect of other income and expenditure but continued to follow cash method of accounting with regard to bonus liability though with the introduction of the payment of ..... ito disallowed the claim for provision on the ground that the assessed was following the cash method for payment of bonus on appeal the aac relying on the supreme court decision in .....

United Credit Limited Vs. Assistant Commissioner of Income

Court: Income Tax Appellate Tribunal ITAT Kolkata

Reported in: (1997)60ITD367(Kol.)

..... effected a general change in the system of accounting for interest from the mercantile method to the cash method in respect of all the loans advanced by it in the case of snow ..... cit vs west coats paper mills ltd supra where the assessee changed its method of accounting for bonus from cash system to mercantile system on the basis of the recommendation of the .....

United Phosphorus Ltd. Vs. Joint Commissioner of Income-tax

Court: Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in: (2002)81ITD553(Ahd.)

..... disclosed by the assessee did not reflect the true profits the assessing officer rejected the cash method adopted by the assessee and assessed the value of these benefits on accrual basis the ..... cit a accepted the cash method of accounting followed by the assessee in relation to export incentives on further appeal by .....

Don E. Williams Co. Vs. Commissioner

Court: US Supreme Court

..... today s decision for only by treating the petitioner as a cash method taxpayer can the court apply the rule of eckert v ..... paid whether the taxpayer files his returns on the accrual or cash method of accounting of course does not bear on the question whether ..... so it would have been inconsistent with fundamental principles of cash method accounting to have allowed them deductions in this case however .....