S. 145 : Method of accounting-Accrual of Liability-Octroi expenses-Accrual of income-Incentives-Amortization of only part payment in profit and loss account-Addition made after reducing part payment accounted for by assessee-Proper-Sales return policy accounted based on sound accounting principles. Deletion of addition by Commissioner (Appeals) is proper.
S. 145 : Method of accounting-Accrual of income-Entitled to receive cold storage charges only on preservation of potatoes in good, marketable condition up to that time-No accrual of cold storage charges over time or right to receive them in part performance of contract-Income for business cycle February to November did not accrue to assessee during February-March-No adjustment for contract period February to November to be made for year ending March-Direct input cost of provision of cold storage charges relating to February and March to be kept in abeyance to be claimed in following year.[S. 4, 5, 37 (1)]
S. 145 : Method of accounting-Chit fund business-Accrual of income-Estimating the commission at five percent of gross chit collection is not proper-Matter remanded. [S. 5]
S. 145 : Method of accounting-Real estate development business–Recognizing income at time of delivery of possession to customer-Applying the percentage method of accounting is not justified.
S. 145 : Method of accounting-Inventory write off-Failure to provide the evidence-Not allowable as deduction. [S. 28(i)]
S. 145 : Method of accounting-No defects in books of account-Estimation of GP was deleted-Forward dated bills duly accounted-Sufficient cash in hand-Deletion of addition is proper. [S.68, 145(3), 153A]
S. 145 : Method of accounting-Work in progress-Notional valuation-Consolidating books of account-Addition is deleted.[S. 69]
S. 145 : Method of accounting-Valuation of stock-Joint venture-Addition on account of construction work-Addition was deleted.
S. 145 : Method of accounting-Difference between contractual receipts according to Form 26AS and in books of assessee-Meagre difference-Addition was deleted. [S. 5]
S. 144C : Reference to dispute resolution panel-Draft assessment order was not forwarded to correct address-Order is barred by limitation [S. 92CA(3), 127(2) 153]