1983 (7) TMI 2

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.... circumstances obtaining in this case, it is difficult to sustain the judgment and order of the High Court, particularly when the High Court has observed that " on the record as it stands it is not possible to hold that there was any collusion " between the appellant and the chartered accountant nominated by the Commissioner of Income-tax. The High Court has further observed that, though nothing o....

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.... for the assessment year 1974-75. However, we feel that a fresh audit of the appellant-company's accounts for the concerned year under s. 142(2A) of the I.T. Act, 1961, should be undertaken before the final assessment is made. Since the Company Petition No. 21 of 1976, under s. 397, etc., of the Companies Act, 1956, is now disposed of, we direct the concerned Commissioner of Income-tax to nomin....