Rejection of Accounting Method followed by Assessee which was accepted in Assessment of earlier Year
Case Law Details
Case Name : CIT Vs. SAS Hotels & Enterprises Limited (Madras High Court)
Related Assessment Year :
Courts :
All High Courts Madras High Court
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Method of Accounting regularly followed by the taxpayer which was accepted by the Tax Officer in past cannot be rejected in future years without expressing the dissatisfaction about the correctness or completeness of the accounts of the taxpayer
Recently, the Madras High court in case of CIT Vs. SAS Hotels & Enterprises Limited [Appeal No. 1030 of 2010] (Madras High Court) held that the Assessing Officer (AO) should not reject the method of accounting which is in accordance with Section 145(1) (Refer Note-
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