TMI Blog2007 (11) TMI 624X X X X Extracts X X X X X X X X Extracts X X X X ..... condoned and the application being GA No. 2819 of 2007 is allowed. 2. We have heard learned counsel for the parties. We have also perused the order passed by the learned Tribunal. The question arose whether the deletion as made by the CIT(A) is correct in the facts and circumstances of the case. All the questions which were raised before the Tribunal were duly dealt with by the learned Tribunal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. 115J. The AO does not have the jurisdiction to go behind the net profits shown in the P L a/c except to the extent provided in the Explanation. The use of the words 'in accordance with the provisions of Parts II and III of Sch. VI to the Companies Act' in s. 115J was made for the limited purpose of empowering the AO to rely upon the authentic statement of accounts of the company. While ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to accept the authenticity of the account maintained in accordance with the provisions of the Companies Act in particular Part II and Part III of Sch. VI to the said Act which are specifically certified by the auditors and approved by the company in the annual general meeting. 4. Hence we do not find that there is any fault on the part of the Tribunal to decide the matter nor there is any subs ..... X X X X Extracts X X X X X X X X Extracts X X X X
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