In the instant case, it is held that the assessing officer is bound by the report of special audit conducted under section 142(2A). Where special audit report does not point out any discrepancy in assessee's books, the assessing officer cannot reject assessee's books.
The Tribunal held that since the assessing officer himself got the accounts audited from special auditors under section 142(2A), he cannot ignore the audit report submitted by the special auditors. If the special auditor points out any discrepancies with regard to allocation of expenditure and correctness of books of account, then it is open to the assessing officer to reject the books of account and resort to estimation. - BARTRONICS INDIA LTD. v. ACIT [2012] 22 taxmann.com 5 (Hyderabad - ITAT).