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2014 (2) TMI 467 - HC - Income TaxSpecial Audit u/s 142(2A) of the Act – It was noticed that the account so maintained were not correct and complete and single account pertaining to three engineering colleges was being maintained without any distinction to the engineering colleges run by separate societies. - Held that:- The arguments on behalf of petitioners rejected - the orders do not suffer from any legal infirmity – Relying upon Sahara India (Firm) Vs. CIT [2008 (4) TMI 4 - Supreme Court] - the object behind Section 142(2A) is to assist the assessing officer in framing a correct and proper assessment based on the accounts maintained by the assessee, and when he finds the accounts of the assessee to be complex, in order to protect the interest of the revenue, recourse to the said provision can be had – the twin conditions, i.e, nature of nature of accounts, complexity of accounts and interest of the revenue exist in the present set of facts - the Assessing Officer has lawfully invoked the provisions of Section 142(2A) of the Act so as to frame a correct and proper assessment and to protect the interests of the revenue, in view of the fact that he found the accounts of the Assessee to be complex on the basis of objective criteria - the conditions prescribed for invoking Section 142(2A), i.e., nature of accounts, complexity of accounts and interest of the revenue are fulfilled and therefore the proposal for special audit under Section 142(2A) of the Act was approved – Decided against Assessee.
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