https://www.taxtmi.com/caselaws?id=64384 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) and dismissed the Revenue's appeal against the deletion of an addition made by the Assessing Officer under section 35E, amounting to Rs. 1,61,80,156, for the assessment year 2001-02. The change in accounting policy by the assessee, engaged in prospecting and exploring ores and minerals, was considered justified under Accounting Standards for a more appropriate financial statement presentation, as the company was not involved in mining activities but solely in prospecting and exploring activities. en-us Fri, 26 Sep 2008 00:00:00 +0530 Mon, 07 Feb 2011 15:52:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64384 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) and dismissed the Revenue's appeal against the deletion of an addition made by the Assessing Officer under section 35E, amounting to Rs. 1,61,80,156, for the assessment year 2001-02. The change in accounting policy by the assessee, engaged in prospecting and exploring ores and minerals, was considered justified under Accounting Standards for a more appropriate financial statement presentation, as the company was not involved in mining activities but solely in prospecting and exploring activities. Case-Laws Income Tax Fri, 26 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64384