Allowing the appeal of the revenue , the Court held that merely because the assessee’s income was audited by chartered accountants in regular process, there could not be unqualified acceptance of the audited figures. But the nature of deletion directed for the residual period was not proper without scrutiny. Therefore, the decision of the Tribunal was to be set aside and directed to ascertain the quantum of inflated income . ( BP. 1986-87 to 1997-98 1987- 88 to 1997 -98)
CIT v. Kedia Castle Dellion Industries Ltd. (2018) 401 ITR 334 (Cal) (HC)
S. 158BC : Block assessment – Undisclosed income- Inflated sales — Report of special auditors — No Unqualified Acceptance Of Figures Of Special Auditors — Matter remanded to quantify inflated income . [ S.158BB ]