Powers of ITOs under section 142(1) of Income Tax Act, 1961.

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....t books of the Head Office for determining the admissibility of the head office expenses claimed by the Indian branches, has been examined by the Board in consultation with the Ministry of Law. 2. A reference to the Ministry of Law was made in the case of IBM, where a similar question had arisen for consideration. A copy of the advice of the Ministry of Law is enclosed (annex I). It will be see....