Assessee adopted cash method of accounting for reimbursement of student concession passes which were to be reimbursed by the state government. AO adopted mercantile method and sought to tax the reimbursement even though it was received in a later year. High Court  held that there is no statutory compulsion to account its income on accrual basis but even a mixed or hybrid system of accounting could be adopted. Thus, since reimbursement was not received the same could not be taxed.  (TC Al No. 283 & 284 of 2006 dt. 21-03-2019) (AY. 1991-92  1992-93)