https://www.taxtmi.com/caselaws?id=61192 The Appellate Tribunal overturned the rejection of the assessee's investment allowance claim by the Income Tax Officer and Commissioner of Income Tax (Appeal). The Tribunal emphasized the denial of access to books as a violation of natural justice and allowed the claim, citing the permissibility of amending profit and loss accounts to create reserve accounts. The decision was influenced by judicial precedents and statutory provisions, ultimately ruling in favor of the assessee and overturning the earlier rejections by the revenue authorities. en-us Fri, 30 Jul 1982 00:00:00 +0530 Tue, 11 Jan 2011 12:35:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61192 The Appellate Tribunal overturned the rejection of the assessee's investment allowance claim by the Income Tax Officer and Commissioner of Income Tax (Appeal). The Tribunal emphasized the denial of access to books as a violation of natural justice and allowed the claim, citing the permissibility of amending profit and loss accounts to create reserve accounts. The decision was influenced by judicial precedents and statutory provisions, ultimately ruling in favor of the assessee and overturning the earlier rejections by the revenue authorities. Case-Laws Income Tax Fri, 30 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61192