https://www.taxtmi.com/caselaws?id=371510 The ITAT concluded that the AO's adjustment of Rs. 52.74 crores due to a change in depreciation rates was not justified under Clause (i) of Explanation 1 to Section 115JB of the I.T. Act. The matter was remanded to the AO for fresh consideration, specifically regarding the examination and satisfaction of the Registrar of Companies about the maintenance of accounts as per the Companies Act. The appeal of the Revenue was partly allowed for statistical purposes. en-us Wed, 28 Nov 2018 00:00:00 +0530 Wed, 05 Dec 2018 15:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371510 The ITAT concluded that the AO's adjustment of Rs. 52.74 crores due to a change in depreciation rates was not justified under Clause (i) of Explanation 1 to Section 115JB of the I.T. Act. The matter was remanded to the AO for fresh consideration, specifically regarding the examination and satisfaction of the Registrar of Companies about the maintenance of accounts as per the Companies Act. The appeal of the Revenue was partly allowed for statistical purposes. Case-Laws Income Tax Wed, 28 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371510