COMMISSIONER OF INCOME TAX Vs. WMI CRANES LTD.

JUDGEMENT

(1.) The appeal is admitted on the following questions:

(2.) In so far as question (a) is concerned, the Commissioner (Appeals) has recorded a finding that there was a bona fide need for change of method of accounting. The material on record would support the said bona fide belief. The Commissioner (Appeals) recorded a finding that the change of method has been followed in the subsequent years and the same was not disputed by the Assessing Officer. The Revenue being aggrieved by the allowance of the said expenditure preferred appeal before the Tribunal. The Tribunal in paragraph 3 places reliance on the judgment of this Court in the case of Melmould Corporation v. CIT, 1993 202 ITR 789. The Tribunal did not dispute the finding recorded by the Appellate Officer on the issue of bona fide belief as also that in the subsequent years the Assessing Officer had allowed the change in the method of accounting. In the light of the above, in our opinion, the question of law as framed would not arise.

(3.) Apart from that nothing has been brought to our notice in the matter of bona fide belief to take a view contrary to the view taken by the lower authorities.