I. T. A. NO. 3487/LB OF 2001, DECIDED ON 22ND NOVEMBER, 2003. versus I. T. A. NO. 3487/LB OF 2001, DECIDED ON 22ND NOVEMBER, 2003.
Section 66 Additional Commissioner's Inspection Powers, which will review the Deputy Commissioner's order, reopen the profit and loss account to review the discount on sales on the estimate that the Assessing Officer had incurred due to a waiver on the sale. Was wrongly allowed, which was not a profit and loss account expense, but rather a trade account entry. The validity assessee sold on a gross basis and the discount was claimed as if the expense was related to the adoption of the account. Disagreement between the two officers will not have any effect Cannot create a reasonable basis for reopening the case
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