https://www.taxtmi.com/caselaws?id=168283 Where company accounts are prepared in accordance with Parts II and III of Schedule VI to the Companies Act and certified by statutory auditors, the Assessing Officer cannot alter the net profit for book profit computation except to the extent expressly permitted by the relevant Explanation. The Tribunal's modification of net profit was contrary to that principle, so its order could not stand; the matter was set aside and restored for further action, with liberty to remand if necessary. en-us Wed, 19 Jun 2002 00:00:00 +0530 Fri, 13 Feb 2015 12:23:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168283 Where company accounts are prepared in accordance with Parts II and III of Schedule VI to the Companies Act and certified by statutory auditors, the Assessing Officer cannot alter the net profit for book profit computation except to the extent expressly permitted by the relevant Explanation. The Tribunal's modification of net profit was contrary to that principle, so its order could not stand; the matter was set aside and restored for further action, with liberty to remand if necessary. Case-Laws Income Tax Wed, 19 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168283