Allowing the petition the Court held that; since Assessing Officer failed to verify the contention of the assessee that the audit report was filed before due date of filing of return , impugned order was to be set aside and, matter was to be remanded back for disposal afresh. (AY. 1993-94, 1994 -95)
Scorpion Industrial Polymers (P.) Ltd. v. CIT (2018) 252 Taxman 413/ 163 DTR 333 / 301 CTR 481 (Mad.)(HC)
S. 139 : Return of income – Set off of carry forward loss – Audit report –Matter was remanded for fresh disposal .