AO can’t deny legitimate exp. of business simply because assessee has changed its method of accounting: ITAT

INCOME TAX : Assessing Officer cannot deny deductions for legitimate expenses incurred in course of business of assessee, if such expenses are otherwise allowable under Act, for simple reason that assessee has changed its method of accounting, more particularly when assessee has explained reasons for change in method of accountingINCOME TAX : Assessing Officer cannot deny deductions for legitimate expenses incurred in course of business of assessee, if such expenses are otherwise allowable under Act, for simple reason that assessee has changed its method of accounting, more particularly when assessee has explained reasons for change in method of accountingwww.taxmann.com Latest Case LawsRead More

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