Since the quantum of production and turnover has been accepted, ...

Book Rejection Ruled Out as Production and Turnover Quantum Accepted; No Grounds for Changing Decision.

September 28, 2018

Case Laws Income Tax AT

Since the quantum of production and turnover has been accepted, the rejection of books of accounts in the peculiar facts and circumstances has been held to be inapplicable and we find no good reason available on record on the basis of which the said conclusion can be varied.

View Source

← Previous Next →

Since the quantum of production and turnover has been accepted, ...

Book Rejection Ruled Out as Production and Turnover Quantum Accepted; No Grounds for Changing Decision.

September 28, 2018

Case Laws Income Tax AT

You may also like:

The High Court disposed of the petition, holding that the rejection of the petitioner's declaration under the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019...

Rejection of books of accounts and estimation of profit - Mere non-issuance of production of sale memos could not have been a ground to reject the entire books of...

Rejection of turnover appearing in the books of accounts - It is already well-settled that in the absence of any definite adverse material accounts kept in regular...

Rejection of books of accounts - The lower G.P. Rate never attracts the addition and it cannot be a ground for rejection of the books - HC

Estimation of net profit - Rejection of books of accounts - Just because that the assessee is having 5 bank accounts and not shown in the regular books cannot be the...

Estimation of income - Bogus purchases - Rejection of books of accounts - There is no error in the finding of the ld.CIT(A) for rejection of the books of accounts as...

Rejection of books of accounts - best judgement assessment - only objection raised by the AO is non-filing of the tax audit report - CIT- A deleting the addition -...

Determination of turnover for presumptive taxation u/s 44AD - The assessee contended that receipts cannot be treated as ancillary receipts as the assessee had already...

Denial of refund claim - Rule 5 of CCR, 2004 – input services – export of services – export turnover - branches turnover neither included in export turnover nor in the...

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...

Computation of deduction u/s 80IB/80IC - allocation of advertisement expenses to the eligible units in the ratio of turnover of eligible units to the total turnover of...

Dispute regarding valuation of imported goods under Customs Valuation Rules. Related parties involved, 10% loading applied to transaction value earlier. New Customs...

Constitutional Validity - West Bengal Excise (Change in Management) Rules, 2009 - Changes in the Board of Directors - The inevitable conclusion must be that clause (d)...

Refund - Zero rated supplies - Computation of Turnover - sale of duty credit e-Scrips - Rule 42, Rule 89(4) and Rule 89(4B) of the CGST Act - The relevancy of the...

Unexplained investments in the form of Specified Bank Notes (SBNs) deposited during demonetization period were questioned. The assessee claimed the deposits were trade...

Quick Updates: