In the result, (i) the appeal of the assessee for AY 2009-10 is partly allowed and for AY 2020-21 is treated as allowed
Bench: Shri B.R. Baskaran (Am) & Shri Amit Shukla (Jm)
209 of the Companies Act 1956). The accounts so maintained by the company were subjected to twin audits one statutory audit under the Companies Act and another tax audit under the Income Tax Act. Both the audit reports are on record and there is no qualification raised in any of audit reports. Section 145 provides for rejection of accounts only