https://www.taxtmi.com/caselaws?id=65676 The Tribunal upheld the Appellate Asstt. CIT's decision to set aside the assessment and allow the assessee to file audited statements, emphasizing compliance with section 12A and proper income computation. The Tribunal found that the Income Tax Officer failed to provide the necessary opportunity for submitting audited statements and erred in calculating income without accounting for outgoing expenses. Consequently, the Tribunal dismissed all appeals by the Revenue, affirming the fairness of the assessment process and the importance of adhering to statutory provisions. en-us Thu, 25 Jun 1981 00:00:00 +0530 Fri, 18 Feb 2011 12:55:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65676 The Tribunal upheld the Appellate Asstt. CIT's decision to set aside the assessment and allow the assessee to file audited statements, emphasizing compliance with section 12A and proper income computation. The Tribunal found that the Income Tax Officer failed to provide the necessary opportunity for submitting audited statements and erred in calculating income without accounting for outgoing expenses. Consequently, the Tribunal dismissed all appeals by the Revenue, affirming the fairness of the assessment process and the importance of adhering to statutory provisions. Case-Laws Income Tax Thu, 25 Jun 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65676