Correction with regard to instruction No.1479.

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....eme Court in the case of Commissioner of Income Tax vs. Oriental Rubber Works and the judgement dated 15.11.1983 has been reported in (1983) 15 Taxman 51 (SC). Their lordships held that though section 132(8) of the Income Tax Act, 1961 does not in terms provide that the Commissioner's approval or the recorded reasons on which it might be based should be communicated to the concerned person, since ....

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....ounts and documents by the assessing officer must be completed as early as possible so that there is no need to keep the books and documents which are not necessary for the purposes of assessments/prosecutions. For every approval of the Commissioner, the procedure laid down by the Supreme Court will have to be followed. Where it is necessary to keep certain books/documents the officer seeking appr....