Register Daily Newsletters My Bookmarks My Queries (D. Forum) My Replies (D. Forum) My Articles My Inbox (PM) Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding

   For Sales / Support:
WhatsApp WhatsApp 9911796707
Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
TMI - e-Newsletter     TaxTMI    Landmark GST Voucher Ruling: Clarifies Tax...     TaxTMI    Sale Certificate from Public E-Auction Triggers...     TaxTMI    Comprehensive Investment Strategy Framework...     TaxTMI    Risk Management System Empowers Customs Officers to...     TaxTMI    Customs Cargo Management Protocols Establish Strict...     TaxTMI    Procedural Fairness Prevails: Hearing Notice...     TaxTMI    Multiple Show Cause Notices Challenged: Final...     TaxTMI    Tax Credit Challenge Dismissed: Procedural Fairness...     TaxTMI    High Court Overturns Tax Tribunal's Decision,...     TaxTMI    Digital Evidence Without Proper Certification...     TaxTMI    Preference Shares Not Debt: NCLAT Blocks Insolvency...     TaxTMI    Regulatory Body Must Establish Prima Facie Evidence...     TaxTMI    Gold Smuggling Suspect Denied Bail: Lawful Search...     TaxTMI    Economic Fraud Case: Supreme Court Revokes...     TaxTMI    Specialized Investment Funds Get New Rules:...     TaxTMI    Latest Case-Laws     TaxTMI    Latest Notifications + Circulars     TaxTMI    GST Council Decisions     TaxTMI       Right Stop
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights May 2016 Year 2016 This

Once the income is estimated, after rejection of books of ...


Once Income Estimated from Rejected Books, No Extra Charges Allowed Under Tax Law for Fairness.

May 27, 2016

Case Laws     Income Tax     AT

Once the income is estimated, after rejection of books of accounts, no other addition is permissible on the basis of rejected books - AT

View Source

 

← Previous Next →

 

You may also like:

  1. The ITAT upheld the CIT(A)'s order rejecting the assessee's books of accounts and estimating total income. When books are rejected u/s 145 and income estimated u/s 144,...

  2. The ITAT upheld the CIT(A)'s decision to reject the assessee's books of accounts under section 145 and estimate income under section 144. The Tribunal clarified that...

  3. The assessee had been following the mercantile system of accounting, wherein book profits are taken for tax assessment, though credit or debit amounts may not be...

  4. 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...

  5. Valuation by DVO - addition based on estimated cost disregarding actual cost as per books - applicability of section 142A before amendment - non-rejection of books - AO...

  6. Categorization of income - Undisclosed income surrendered during survey - Charging of tax rate u/s. 115BBE - CIT(A) granted relief to the assessee by charging income at...

  7. The Appellate Tribunal addressed the issue of estimation of income and rejection of duly audited books of accounts of the assessee firm u/s 145(3) of the Act. It held...

  8. Wealth Tax Liability - Whether Club can be treated as "Association of Person"? - Charging provisions under the Income Tax versus under the Wealth Tax - This argument of...

  9. Rejection of book result u/s 145(3) - estimation of income - Deduction of depreciation from the estimated income - Depreciation should be allowable being statutory...

  10. Rental income correctly classified as "income from house property" rather than "income from business" despite composite rent including amenities charges. TDS deducted...

  11. 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...

  12. ITAT ruled that penalty under section 271(1)(c) cannot be sustained where income assessment was based on estimated net profit rate of 24.50% versus assessee's declared...

  13. Nature of income - Income received from Strand Book Stall for providing warehousing, binding, shrink wrapping, supervision charges and mailing charges - taxable as...

  14. Allowability of Depreciation, when income is computed on estimate basis after rejection of books of accounts - hen the Net Profit is made on estimate basis after...

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

 

Quick Updates:Latest Updates

What's New:
    Latest Case Laws
What's New:
    Latest Notifications
What's New:
    Latest Circulars
F: SEZ Supply Clarified: Export-Oriented Unit Confirms Duty Exemption Wit...
A: Government Contract Dispute: Subcontractor Wins Judicial Relief Throug...
F: Merged Entity Seeks TDS Credit Resolution Through Detailed Documentati...
F: Experts Clarify Scope of Revisional Powers Under CGST Act Section 108(...
A: Annual Returns for One Person Companies: Essential Filing Requirements...
A: Taxpayer Wins Export Services GST Refund Battle, Department Ordered to...
A: Brewery Challenges Tax Notice for GST Evasion and Product Misclassific...
A: Organic Textile Standard Sets Global Benchmark for Sustainable Product...
A: Environmental Regulations Expose Critical Gaps in Manufacturing Sector...
A: Regional Trade Agreements Leverage Local Value Creation to Boost Econo...
A: Customs Reforms Simplify Export Entry: One-Year Conversion Limit, Elec...
A: Customs Law Tackles Import Valuation Challenges Through Transaction-Ba...
A: Customs Authorities Leverage Contemporaneous Import Data to Combat Und...
A: Customs Dept Challenges Import Valuations Using Contemporaneous Provis...
H: Landmark Ruling: Retrospective Tax Amendments Struck Down as Unconstit...
H: High Court Validates CENVAT Credit Utilization, Affirms Unified Tax Cr...
H: Geometry Compass Box Ruled as Mixed Supply, GST Rate Set at 18% Based ...
H: Legal Win: Interest in Land Acquisition Deemed Capital Gains, Exempt f...
H: Transfer Pricing Dispute: Tribunal Modifies Comparable Companies List ...
H: Income Tax Fees from Membership and Share Transfers Ruled as Capital R...
H: Grandfathered Capital Gains Exemption Upheld: No Adjustment of Losses ...
H: Taxpayer Prevails: Stock Valuation Challenge Dismissed, Section 69C an...
H: Revisional Proceedings Under Section 263 Invalidated Due to Lack of Su...
H: Taxpayer Wins on Transfer Pricing Method and SEZ Service Deductions, T...
H: Multinational Firms Win Transfer Pricing Battle: TNMM Method Validated...
H: Taxpayer Wins Major Victory: ITAT Strikes Down Income Additions, Valid...
H: Unsecured Loans and Share Capital Challenged: Insufficient Evidence Le...
H: Tax Regime Shift Validated: Timely Form 10IE Filing Secures Beneficial...
H: Land Distance Valuation Upheld: Proper Inquiry and Documentary Evidenc...
F: GST Refund for Export Services: Missed Invoices Resolved Through Strat...