https://www.taxtmi.com/article/detailed?id=5203 When audited annual accounts are materially revised in response to Companies Act objections, approved by board and shareholders and filed with the Registrar of Companies, the revised profit and loss account substitutes the original and must be considered by the assessing officer for computing book profit under the relevant tax provision; the officer must nonetheless examine the bona fides of the revision and the true nature of the underlying transactions. en-us Mon, 22 Jul 2013 09:56:58 +0530 Mon, 22 Jul 2013 09:56:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5203 When audited annual accounts are materially revised in response to Companies Act objections, approved by board and shareholders and filed with the Registrar of Companies, the revised profit and loss account substitutes the original and must be considered by the assessing officer for computing book profit under the relevant tax provision; the officer must nonetheless examine the bona fides of the revision and the true nature of the underlying transactions. Articles Income Tax Mon, 22 Jul 2013 09:56:58 +0530 https://www.taxtmi.com/article/detailed?id=5203