COMMISSIONER OF INCOME TAX Vs. DOOM DOOMA INDIA LIMITED

JUDGEMENT

(1.) THE Income-tax Appellate Tribunal has, at the instance of the Revenue, referred the following question under Section 256(1) of the Income-tax Act, 1961 (for short, "the Act") :

(2.) WE have heard learned counsel for the Revenue and learned counsel for the respondent.

(3.) SECTION 145 of the Act deals with the method of accounting. The part of the section relevant for the purpose of this case is quoted below :