https://www.taxtmi.com/caselaws?id=2093 The Tribunal ruled in favor of the assessee, citing the judgment in Apollo Tyres Ltd. vs. Commissioner of Income-tax, emphasizing that the Assessing Officer cannot question the profit and loss account if certified in accordance with the Companies Act. The High Court dismissed the tax case, finding no substantial questions of law for consideration, as the law was settled by the Apex Court. The judgment clarified the interpretation of Section 115JA and underscored the importance of compliance with the Companies Act in determining tax liabilities, limiting the Assessing Officer's authority once the account is certified under the Act. en-us Mon, 06 Aug 2007 00:00:00 +0530 Wed, 10 Mar 2010 10:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2093 The Tribunal ruled in favor of the assessee, citing the judgment in Apollo Tyres Ltd. vs. Commissioner of Income-tax, emphasizing that the Assessing Officer cannot question the profit and loss account if certified in accordance with the Companies Act. The High Court dismissed the tax case, finding no substantial questions of law for consideration, as the law was settled by the Apex Court. The judgment clarified the interpretation of Section 115JA and underscored the importance of compliance with the Companies Act in determining tax liabilities, limiting the Assessing Officer's authority once the account is certified under the Act. Case-Laws Income Tax Mon, 06 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2093