https://www.taxtmi.com/caselaws?id=24859 The court directed the Tribunal to reconsider the matter based on subsection (2) of section 145 of the Income-tax Act, clarifying the distinction between subsection (1) and subsection (2) in cases where the method of maintaining accounts is not rejected. The Tribunal erred in applying the proviso to subsection (1) and should have considered subsection (2) of section 145. The reference was answered with a direction for a fresh consideration based on subsection (2) of section 145, emphasizing the correct application of the provision. en-us Tue, 21 Jul 1987 00:00:00 +0530 Fri, 22 Jan 2010 17:58:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24859 The court directed the Tribunal to reconsider the matter based on subsection (2) of section 145 of the Income-tax Act, clarifying the distinction between subsection (1) and subsection (2) in cases where the method of maintaining accounts is not rejected. The Tribunal erred in applying the proviso to subsection (1) and should have considered subsection (2) of section 145. The reference was answered with a direction for a fresh consideration based on subsection (2) of section 145, emphasizing the correct application of the provision. Case-Laws Income Tax Tue, 21 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24859