Amendment of section 145

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ets and figure "or accounting standards as notified under sub-section (2), have not been regularly followed by the assessee", the words, brackets and figure "has not been regularly followed by the assessee, or income has not been computed in accordance with the standards notified under sub-section (2)" shall be substituted. - Clause 50 of the Bill seeks to amend section 145 of the Income-tax Ac....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....atisfied about the correctness or completeness of the accounts of the assessee, or where the method of accounting provided in sub-section (1) or accounting standards as notified under sub-section (2), have not been regularly followed by the assessee, the Assessing Officer may make an assessment in the manner provided in section 144. It is proposed to amend sub-section (2) of section 145 to provi....