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EMI method can be used for taxability of hire purchase transaction even if sum of digit method used for accounting

April 25, 2019[2019] 104 taxmann.com 280 (Madras)/[2019] 262 Taxman 477 (Madras)/[2019] 413 ITR 291 (Madras)

IT: In case of hire purchase transactions, assessee was justified in adopting EMI method for taxability of interest income in its return even though assessee had adopted SOD method in its books of account on basis of guidelines issued by ICAI

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