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TMI Blog2017 (7) TMI 1054X X X X Extracts X X X X X X X X Extracts X X X X ..... 46. The Tribunal could not have directed the Assessing Officer to compute the income only on the basis of books of accounts. It will have to be left to the Assessing Officer to test the genuineness and authenticity of the entries in the books of accounts and thereafter pass fresh assessment order. In light of above, we pass the following order : i) The order of the Tribunal to the extent of allowing the production of additional evidence, that is, books of accounts, is maintained. However, we clarify that it will be open for the Assessing Officer to test the genuineness and authenticity of the entries in the books of accounts and thereafter pass assessment order afresh. ii) The directions of the Tribunal with regard to determinatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d down in Rule 43 of the Income Tax Rules is also not being satisfied. Moreover, for the Assessment year 1992-93 when the Assessing Officer had rejected the books of accounts and the Tribunal had directed to compute as per the books of accounts, this court had admitted the appeal filed by the Department. The learned counsel submits that if after ten years, the assessee is allowed to produce the books of accounts, it will lead to chaotic situation. 3 Mr.Kotangle, the learned counsel for the appellant adopts the arguments of Mr.Malhotra. 4 Mr.Toprani, the learned counsel for respondent, submits that in respect of different assessees of the same group, the Tribunal had directed the Assessing Officer to consider the books of accounts and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Assessing Officer to accept the books of accounts. 7 We are inclined to adopt the same course as by the Apex Court in Civil Appeal No.6326 of 2010 in case of Jyoti Mehta vs. The Custodian and Ors. 8 In light of above, we pass the following order : i) The order of the Tribunal to the extent of allowing the production of additional evidence, that is, books of accounts, is maintained. However, we clarify that it will be open for the Assessing Officer to test the genuineness and authenticity of the entries in the books of accounts and thereafter pass assessment order afresh. ii) The directions of the Tribunal with regard to determination of unaccounted investments, disallowance of deduction on account of interest expenditure, d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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