https://www.taxtmi.com/caselaws?id=60990 The ITAT allowed the assessee's appeal, overturning the rejection of the investment allowance claim by the ITO and Commissioner (Appeals). The ITAT found that the denial of access to books for necessary entries violated principles of natural justice. Emphasizing the right to create a reserve account before assessment, the ITAT concluded that the claim should have been accepted. The decision highlighted the importance of rectifying accounts and the entitlement to legitimate deductions under the law, ultimately ruling in favor of the assessee. en-us Fri, 30 Jul 1982 00:00:00 +0530 Mon, 10 Jan 2011 12:43:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60990 The ITAT allowed the assessee's appeal, overturning the rejection of the investment allowance claim by the ITO and Commissioner (Appeals). The ITAT found that the denial of access to books for necessary entries violated principles of natural justice. Emphasizing the right to create a reserve account before assessment, the ITAT concluded that the claim should have been accepted. The decision highlighted the importance of rectifying accounts and the entitlement to legitimate deductions under the law, ultimately ruling in favor of the assessee. Case-Laws Income Tax Fri, 30 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60990