https://www.taxtmi.com/caselaws?id=277195 The central issue is whether an Assistant Commissioner on appeal may substitute a different method of profit computation than that adopted by the Income tax Officer. The analysis applies statutory appellate and supervisory principles: a remand for report is permissible, and after considering the officer's report and accounts the Assistant Commissioner may, in exercise of appellate power, confirm, reduce or enhance assessment and substitute a computation method where accounts permit direct determination of profits. The proviso allowing the assessing officer to adopt a method where books are insufficient does not oust appellate supervisory powers. Outcome: appellate substitution of computation method upheld in favour of revenue. en-us Wed, 01 Sep 1943 00:00:00 +0630 Wed, 28 Nov 2018 15:12:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277195 The central issue is whether an Assistant Commissioner on appeal may substitute a different method of profit computation than that adopted by the Income tax Officer. The analysis applies statutory appellate and supervisory principles: a remand for report is permissible, and after considering the officer's report and accounts the Assistant Commissioner may, in exercise of appellate power, confirm, reduce or enhance assessment and substitute a computation method where accounts permit direct determination of profits. The proviso allowing the assessing officer to adopt a method where books are insufficient does not oust appellate supervisory powers. Outcome: appellate substitution of computation method upheld in favour of revenue. Case-Laws Income Tax Wed, 01 Sep 1943 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=277195