Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights July 2012 Year 2012 This

Rejection of books of accounts u/s 145(3) of the I T Act - ...


Taxpayer challenges rejection of books u/s 145(3) of Income Tax Act, disputes profit estimation method.

July 19, 2012

Case Laws     Income Tax     AT

Rejection of books of accounts u/s 145(3) of the I T Act - Applicability of AS-1 / AS-7 (revised) - authorities below are not justified in estimating the profits on percentage basis as per the work in progress shown by the assessee - AT

View Source

 


 

You may also like:

  1. 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...

  2. 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...

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

  4. 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...

  5. 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...

  6. 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...

  7. Rejection of books of accounts u/s 145(3) - On money receipt - estimation of income - considering the facts that the project undertaken by the assessee comes under...

  8. Rejection of books of accounts u/s 145(3) - trading addition - Once the books of accounts are rejected, the AO is required to estimate the gross profit in the hands of...

  9. Rejection of books of account and estimation of gross profit - basis of rejection of rejection of accounts by the AO was totally erroneous and uncalled for. - AO has not...

  10. Rejection of books of accounts - valuation of the closing stock - gross profit margin - Assessment was complete u/s 143(3) - After that, during survey u/s 133A, assessee...

  11. The ITAT upheld the CIT(A)'s rejection of the assessee's books of account u/s 145(3) as inaccurate, unreliable, and incapable of reflecting true financial affairs. It...

  12. Assessment u/s 153A - unexplained investment in Hotel Building - addition under sec 69 r.w.s. 115BBE - reliance on DVO report post-search - Held, DVO report...

  13. Rejection of the books of account of the assessee company u/s. 145(3) - Estimation of income - The ITAT found the rejection of books of accounts by the AO unjustified as...

  14. 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...

  15. Estimation of profit - rejection of books of accounts - keeping in view such glaring defects in the books of account and the statement of the appellant during the course...

 

Quick Updates:Latest Updates