PR COMMISSIONER OF INCOME TAX vs. THE KANGRA CENTRAL COOPERATIVE BANK LTD

The appeals are dismissed

Bench: HON'BLE MRS. JUSTICE SABINA,HON'BLE MR. JUSTICE SUSHIL KUKREJA

65. In CIT v. Devi Films (P) Ltd., the Madras High Court held that the regular mode of accounting only determined the mode of computing the taxable income and the point of time at which the tax liability was attracted. It would not determine or affect the range of taxable income or the ambit of taxation. It was further held

PR COMMISSIONER OF INCOME TAX vs. THE KANGRA CENTRAL COOPERATIVE BANK LTD

The appeals are dismissed