Rejection of books of account - accounting for scrap - When no ...

Assessing Officer Unjustly Rejects Books of Account Without Identifying Defects; Fails to Justify Valuer's Report Rejection u/s 145(3.

September 13, 2013

Case Laws Income Tax AT

Rejection of books of account - accounting for scrap - When no defect was pointed out in the books of account even during the course of scrutiny assessment and when the valuer’s report was not accepted by the AO, there was no reason for rejection of books of account u/s 145(3) - AT

View Source

← Previous Next →

Rejection of books of account - accounting for scrap - When no ...

Assessing Officer Unjustly Rejects Books of Account Without Identifying Defects; Fails to Justify Valuer's Report Rejection u/s 145(3.

September 13, 2013

Case Laws Income Tax AT

You may also like:

The provisions of section 69A allow for additions if the assessee is found to be the owner of unrecorded money, bullion, jewelry, or valuable articles. However, when...

Reference to Departmental valuation officer [DVO] without first rejecting the books of accounts - The Court reiterated the importance of rejecting the books of accounts...

IT, Estimation of income without rejecting books of accounts is arbitrary, addition made by AO deleted

Rejection of Books of Account - The Assessing Officer was unable to pinpoint as to any specific defect noticed during course of the proceedings except that the Books of...

Rejection of books of accounts - rejection of books of account by invoking the provisions of section 145(3) - the AO has categorically noted in the assessment order...

The High Court dismissed the appeal filed u/s 260A, holding that no substantial question of law arises. The Assessing Officer had rejected the assessee's books of...

The Income Tax Appellate Tribunal examined the determination of net profits from contract business, rejection of books of accounts, and addition u/s 40(a)(ia) for...

Rejection of books of accounts u/s 145 - Addition u/ss 68/69A with 115BBE - cash deposited during demonetization as unexplained credit. The Assessing Officer did not...

Addition on account of deposit of cash during the demonetization period - allegation of sham transactions - the AO has acted on mere surmise and conjectures without duly...

Once the books of accounts has been rejected the Assessing Officer cannot fall back upon the same books for making addition on account of interest accrued on the FDRs...

Validity of Referring the matter to DVO - Additions based on valuation report - The High Court noted that the assessee had filed its return for the relevant assessment...

Reopening of assessment u/s 147 - Mere production of books of account and the details by the assessee are one aspect of the matter and even with reference to such books...

Disallowance of contingency expenses claimed by the assessee. The Assessing Officer (AO) disallowed the contingency expenses despite acknowledging that the total cost...

Revision u/s 263 by CIT - Unexplained bank deposits - PCIT, without making further inquiry on his own account, has simply stated in the impugned order that the Assessing...

Disallowance of raw material consumption - rejection of the books of account - The Appellate Tribunal finds that the AO's ad hoc disallowance without specific reasons...

Quick Updates: