1983 (7) TMI 2

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..... t made by ITO was set aside - - - - - Dated:- 28-7-1983 - Judge(s) : V. BALAKRISHNA ERADI., D. P. MADAN. and V. D. TULZAPURKAR. JUDGMENT We have heard counsel on both sides. Having regard to the facts and circumstances obtaining in this case, it is difficult to sustain the judgment and order of the High Court, particularly when the High Court has observed that " on the record as it stan .....

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..... s. 144(b) of the I.T. Act, 1961. In all the circumstances of the case, we set aside the impugned judgment of the High Court as well as the " best judgment " assessment made by the then ITO, Special Ward, Ghaziabad, for the assessment year 1974-75. However, we feel that a fresh audit of the appellant-company's accounts for the concerned year under s. 142(2A) of the I.T. Act, 1961, should be unde .....

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