Tag Archives: switch over from the mercantile to the cash system

Switching over from cash to mercantile system is not permissible in middle of FY : HC

By | November 22, 2016

Question  whether the Income Tax Officer was justified in refusing to permit the assessees switching over from the cash to the mercantile system during the midst of the financial year ? Held A switch over in the midst of an accounting year, especially in such cases, could lead to skewed results. An assessee could then… Read More »