https://www.taxtmi.com/caselaws?id=236618 The High Court set aside the Tribunal's decision to reject the appellant's accounts under Section 145(2) of the Income Tax Act, remanding the matter for fresh determination. The Court emphasized the need to consider various factors presented by the appellant in accepting the burning loss claimed, instructing the Tribunal to reassess the burning loss in accordance with law, specifically referencing the Joint Plant Committee report. The appeal was allowed in part, focusing on the reassessment of the burning loss issue. en-us Tue, 07 Feb 2012 00:00:00 +0530 Sat, 31 Aug 2013 15:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236618 The High Court set aside the Tribunal's decision to reject the appellant's accounts under Section 145(2) of the Income Tax Act, remanding the matter for fresh determination. The Court emphasized the need to consider various factors presented by the appellant in accepting the burning loss claimed, instructing the Tribunal to reassess the burning loss in accordance with law, specifically referencing the Joint Plant Committee report. The appeal was allowed in part, focusing on the reassessment of the burning loss issue. Case-Laws Income Tax Tue, 07 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236618