https://www.taxtmi.com/caselaws?id=328397 The Tribunal upheld the Assessing Officer's reference to a special audit under Section 142(2A) of the Income Tax Act, emphasizing the complexity of the accounts. It found the special audit report valid, despite reliability concerns, and estimated income at 8% of sales. Disallowances under Sections 40A(3) and 30% of expenses were upheld due to lack of evidence. The Tribunal dismissed the revenue's appeals and directed income computation based on the special auditor's determination, balancing complexity and reliability issues. en-us Fri, 29 Apr 2016 00:00:00 +0530 Fri, 03 Jun 2016 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328397 The Tribunal upheld the Assessing Officer's reference to a special audit under Section 142(2A) of the Income Tax Act, emphasizing the complexity of the accounts. It found the special audit report valid, despite reliability concerns, and estimated income at 8% of sales. Disallowances under Sections 40A(3) and 30% of expenses were upheld due to lack of evidence. The Tribunal dismissed the revenue's appeals and directed income computation based on the special auditor's determination, balancing complexity and reliability issues. Case-Laws Income Tax Fri, 29 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328397