Loss worked-out by special auditor appointed by the AO - Loss ...

Assessing Officer Must Accept Special Auditor's Loss Calculation Over Taxpayer's Tentative Figures.

May 7, 2018

Case Laws Income Tax AT

Loss worked-out by special auditor appointed by the AO - Loss determined by the special auditor appointed by the Department shall have to be accepted by the A.O. as against tentative figure given by the assessee. - AT

View Source

← Previous Next →

Loss worked-out by special auditor appointed by the AO - Loss ...

Assessing Officer Must Accept Special Auditor's Loss Calculation Over Taxpayer's Tentative Figures.

May 7, 2018

Case Laws Income Tax AT

You may also like:

Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

Additions towards Bogus purchases - When the figures of purchase shown by the assessee in the profit and loss account are matching with the figures certified by the...

CBIC clarifies procedure for departmental appeals regarding interest/penalty under Section 128A of CGST Act. Where taxpayers have fully paid tax demands under Section 73...

Revision u/s 263 - bogus purchase - proof of nexus between the purchases and sales - once submission/reply filed by the assessee, pursuant to enquiry by the Assessing...

Computation of MAT credit - Assessee has relied on the ITR–6 format to arrive at the total liability as well as the MAT credit calculations and paid tax accordingly. In...

Order 142(2A) appointing Special Auditor by AO - when it is stated in the order that looking to the complexity and the multiplicity of transactions, account are required...

Credit of TDS can be granted only when income corresponding to such TDS is assessed to tax in the same financial year. Assessee has the liberty to approach the Assessing...

Oppression and Mismanagement - The appellants are critical of the Special Officer appointed by the learned National Company Law Tribunal (who was appointed to ensure...

Reopening of assessment - allegation of undisclosed source of purchase of property - If the Assessing Officer has to say that there are two properties purchased, either...

Assessing Officer directed to allow set off of current year's business loss as well as the brought forward business loss/unabsorbed depreciation against the income...

Disallowance of loss from trading in penny shares was rejected. The Assessing Officer's finding that the trading loss was not commercially prudent was not accepted. The...

Loss of precious metal - Notional loss or actual loss - Abnormal loss incurred by the assessee can be treated as revenue expenditure to be allowable during this year or...

Exemption u/s 11 - receipts from the business of developing, coordinating plants and implementing the rail infrastructure projects, etc. for Indian Railways, exceeded...

Validity of Reopening of assessment u/s 148 - the opinion formed by the assessing officer being based on the new information available to the assessing officer after...

Adoption of special auditor's report only in part - estimation made on the assessment - validity of audit report based on sampling made by the Auditor - Auditing and...

Quick Updates: