https://www.taxtmi.com/caselaws?id=67616 The tribunal allowed the appeal, rejecting the disallowances made by the Assessing Officer under section 145(2) against a firm engaged in mining and sales of limestone. The tribunal emphasized the importance of a balanced and logical approach in assessing income, highlighting the need for reliability in maintaining accounts. It was noted that the Assessing Officer's approach lacked accounting and statistical logic in comparing expenses with incomparable cases, leading to unjustified disallowances. The tribunal stressed the duty of the Assessing Officer to justify invoking section 145(2) by demonstrating the inability to deduce correct profits due to defects in the books, thereby emphasizing fair treatment based on actual evidence. en-us Thu, 14 Aug 1997 00:00:00 +0530 Fri, 11 Mar 2011 18:27:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67616 The tribunal allowed the appeal, rejecting the disallowances made by the Assessing Officer under section 145(2) against a firm engaged in mining and sales of limestone. The tribunal emphasized the importance of a balanced and logical approach in assessing income, highlighting the need for reliability in maintaining accounts. It was noted that the Assessing Officer's approach lacked accounting and statistical logic in comparing expenses with incomparable cases, leading to unjustified disallowances. The tribunal stressed the duty of the Assessing Officer to justify invoking section 145(2) by demonstrating the inability to deduce correct profits due to defects in the books, thereby emphasizing fair treatment based on actual evidence. Case-Laws Income Tax Thu, 14 Aug 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67616