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
Income Tax Bill, 2025     TaxTMI    TMI - e-Newsletter     TaxTMI    Government Securities Trading Rules Modified Under...     TaxTMI    Finance Ministry Revises AIDC Rates: Bourbon...     TaxTMI    Private Companies Get Extended Deadline Until June...     TaxTMI    Property Transaction Additions Under Section 69A...     TaxTMI    Partnership Firm Wins Appeal Delay Condonation...     TaxTMI    Tax Department Must Share Documents Requested by...     TaxTMI    Input Tax Credit Utilization From Different GST...     TaxTMI    DGFT Makes Electronic Certificates of Origin...     TaxTMI    Central Government Sets Phased Implementation Dates...     TaxTMI    RBI Revises Payment Rules Between ACU Member...     TaxTMI    Stock Exchanges Must Take Full Responsibility for...     TaxTMI    SEBI Makes Intermediaries Fully Liable for AI...     TaxTMI    New Income Tax Bill Proposes Single Tax Year...     TaxTMI    Assessment Order Under Section 73 of GST Act...     TaxTMI    Revenue Appeals Below Rs. 2 Crores Must Be...     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
VAT - Highlights / Catch Notes

Home Highlights December 2018 Year 2018 This

Rejection of books of account was made on valid basis. ...


Authorities Rightly Rejected Books of Account; Validly Used Electricity Consumption to Estimate Concealed Turnover.

December 11, 2018

Case Laws     VAT and Sales Tax     HC

Rejection of books of account was made on valid basis. Therefore, the authorities have not erred in looking into the electricity consumption for the purpose of making an estimation of concealed turnover.

View Source

 

← Previous Next →

 

You may also like:

  1. Rejection of books of accounts of assessee - enhancement of turnover - higher consumption of electricity - electricity being consumed by the officials at their...

  2. Deduction u/s 80IC - AO has held that the profits are not matching with the consumption of the electricity at the said Unit - comparison of consumption of electricity in...

  3. Rejection of books of accounts u/s 145 (3) - AO by recklessly rejecting the books of account proceeded to estimate the income by applying profit @ 5% of the gross...

  4. Clandestine removal demand based on electrical consumption was challenged. Average electricity consumption for certain periods was calculated. Cross-examination of...

  5. 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...

  6. Estimation of net profit - rejection of books of accounts - Once the books of account of the assessee was produced before the lower authorities and if there is certain...

  7. 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...

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

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

  10. Rejection of books of account - trading addition - Assessee cannot claim advantage of lesser addition by getting the books rejected year after year and avoiding the...

  11. 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 -...

  12. 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...

  13. Estimation of income - rejection of books of accounts - Once it has been found that the assessee has not voluntarily maintained its books of account, as required under...

  14. 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...

  15. Genuineness of purchases - AO rightly rejected the books of account and made the additions on estimate basis - jugglery of book entries has been played - HC

 

Quick Updates:Latest Updates

What's New:
    Latest Case Laws
What's New:
    Latest Notifications
What's New:
    Latest Circulars
F: Participant Questions Legality of Single SCN for Two Years Under Secti...
F: Business Challenges ITC Reversal Due to Supplier's GST Non-Payment, Ci...
F: GST Registration Required for Reverse Charge on Goods Transport Servic...
F: Debate on GST's Applicability to Stamp Duty: Exemption Under SI. No 47...
H: GST Council Clarifies Rates: 5% on Pepper, Tax-Free Raisins, Different...
H: Exim Bank's $120M Credit Line to GO-VNM for High-Speed Guard Boats und...
H: Export-Import Bank's $180M Credit Line for Offshore Patrol Vessels Mus...
H: Gold Bullion Import Quota: New Rules for TRQ Allocation Require Certif...
H: DGFT Sets Import Quotas: 0.8 MT Calcined 1.9 MT Raw Petroleum Coke for...
H: Government Securities Trading Rules Modified Under Section 16 to Contr...
H: Finance Ministry Revises AIDC Rates: Bourbon Whiskey at 50%, Other Alc...
H: Private Companies Get Extended Deadline Until June 30, 2025 For Securi...
A: Section 10AA: Tax Exemptions for Companies in SEZs Boost Export Income...
A: Supreme Court orders insurance company to settle truck fire claim, val...
A: Court Quashes Penalty for Wrong Tax Head Credit Allocation; Electronic...
A: Uttar Pradesh Launches E-HRMS Portal for State Employees: Streamlined ...
A: Retrospective GST Cancellations Risk Halting Business Operations; Cour...
A: Filing Complaints on Misleading Food Labels: Understanding the Process...
A: Telangana High Court Validates Extension of Limitation Period for Show...
A: Global Shift to Ban Harmful Food Additives: Health, Safety, and Enviro...
A: E-commerce operators must pay GST liabilities via cash ledger under Se...
A: Indian Customs Cuts Port Dwell Time with Direct Port Delivery, Faceles...
F: Debate on Time-Barred Appeals Post FORM GST APL-02 Issuance Under Sect...
H: Small Retailer Gets Final Chance to Restore GST Registration by Filing...
H: GST Refund Claim Rejection Invalid: Authority Must Give Reasoned Order...
H: Tax Reassessment Under Section 147 Invalid When No Material Facts Were...
H: Tax Authorities Must Re-examine Trading Results and Form 26AS Discrepa...
H: Taxpayer's Section 10(26AAA) Sikkimese Exemption Claim Remanded for Fr...
H: Property Transaction Additions Under Section 69A Deleted Due to Bankin...
H: Assessment Order Under Section 56(1)(vii) For Rs. 139.67 Crores Quashe...