1988 (1) TMI 27

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.... by OM PRAKASH J.-The petitioner, a limited company, seeks a writ in the nature of certiorari for quashing the order dated February 17, 1984, annexure 3 to the writ petition, passed by the Inspecting Assistant Commissioner of Income-tax (Assessment). Upon a perusal of annexure 3 to the writ petition, it appears that the Inspecting Assistant Commissioner (Assessment) while issuing directions reg....

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....e this court time and again. The judgment dated March 3, 1987, given in Swadeshi Cotton Mills Company Ltd. v. CIT [1988] 171 ITR 634 by a Division Bench of this court is on the same point. Having considered the relevant legal provisions and the instructions issued by the Department, the Bench, in the case referred to above, held that it is not the subjective satisfaction of the assessing authority....

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....l balance-sheet and provisional profit and loss account before the Inspecting Assistant Commissioner (Assessment). This fact implies that the assessee was not sure about the correctness of the account books. Otherwise, there was no need for the assessee to name the balance-sheet and profit and loss account as provisional. Naming the balance-sheet and the profit and loss account as provisional left....

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....ately stated in the case of Swadeshi Cotton Mills Company Ltd. [1988] 171 ITR 634. One of the circumstances stated in the instructions is that where the Income tax Officer has any information necessitating a special audit, directions can be issued for special audit. From the facts of the case, especially that the assessee furnished only a provisional balance-sheet/profit and loss account, it can b....