https://www.taxtmi.com/caselaws?id=785354 Discrepancy between turnover reported in tax audit records and the profit and loss account indicated apparent underreporting; the assessing officer failed to make inquiries or verification required by law, rendering the assessment order erroneous and prejudicial to revenue. The revisional authority set aside the assessment and directed the assessing officer to verify the assessees reconciliation statement and the claim that tax collected at source related to certain advances, confining inquiries to those issues. The revisional direction was upheld and the appeal dismissed. en-us Wed, 17 Dec 2025 00:00:00 +0530 Thu, 22 Jan 2026 08:41:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785354 Discrepancy between turnover reported in tax audit records and the profit and loss account indicated apparent underreporting; the assessing officer failed to make inquiries or verification required by law, rendering the assessment order erroneous and prejudicial to revenue. The revisional authority set aside the assessment and directed the assessing officer to verify the assessees reconciliation statement and the claim that tax collected at source related to certain advances, confining inquiries to those issues. The revisional direction was upheld and the appeal dismissed. Case-Laws Income Tax Wed, 17 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785354