ICDS-I provides that an accounting policy shall not be changed without ’reasonable cause’. The term ’reasonable cause’ is not defined. What shall constitute ’reasonable cause’.

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Policies Income computation and disclosure standards
Income Tax
Manuals
Dated:- 8-9-2017
Manual - ICDS I : Accounting Policies Under the Act, 'reasonable cause is an existing concept and .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ption of a different accounting policy is required by statute or for compliance with an accounting standard or if it is considered that the change would result in a more appropriate presentation of th .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X