https://www.taxtmi.com/caselaws?id=71648 The Tribunal upheld the Commissioner's order under Section 263, dismissing the appeal filed by the assessee. The Tribunal concluded that the new method of accounting adopted by the assessee for machinery spares did not enable the ITO to deduce true income, and thus, the provisions of Section 145 were applicable. The Tribunal also noted that the Commissioner had not closed the door for the assessee to furnish proper proof before the ITO in the fresh assessment. en-us Tue, 25 Jun 1985 00:00:00 +0530 Tue, 26 Apr 2011 12:58:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71648 The Tribunal upheld the Commissioner's order under Section 263, dismissing the appeal filed by the assessee. The Tribunal concluded that the new method of accounting adopted by the assessee for machinery spares did not enable the ITO to deduce true income, and thus, the provisions of Section 145 were applicable. The Tribunal also noted that the Commissioner had not closed the door for the assessee to furnish proper proof before the ITO in the fresh assessment. Case-Laws Income Tax Tue, 25 Jun 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71648