Court :
INCOME TAX APPELLATE TRIBUNAL
Brief :
That in a case were the assessee has filed two sets of audited accounts one before the assessing officer and the other before the Bank for which loans were taken. The CIT(A), erred both in the Laws and in Facts in not invoking the provisions under clause of 4 of Sec. 250 of the I,T.Act, 1961,. in directing the A.O. to make further enquiry on the second set of accounts filed by the assessee before the Banking Authority and to determine the correct income after such enquiry
That on the facts and circumstances of the case, the CIT(A), erred in taking the net profit disclosed in the second set of accounts filed before the Banking Authority ignoring the difference in various items amounting to Rs. 1,95,83,754/- which was disallowed by the A.O,
Citation :
D.C.I.T., Circle-1,. Midnapore (APPELLANT ) -Versus- Sachidananda Ojha Midnapore (PAN: AADPO 3925 D)(RESPONDENT)
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