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

Case Laws Income Tax

July 19, 2012

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

← Previous Next →

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

Case Laws Income Tax

July 19, 2012

You may also like:

Rejection of books of accounts - the assessee is not maintaining the proper books of account with regard to stock - to plug the leakage of revenue, certain disallowance...

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...

Rejection of books of account - accounting for scrap - When no defect was pointed out in the books of account even during the course of scrutiny assessment and when the...

Rejection of Books of Accounts - mere disclosure of a low net profit would not enable the AO to invoke the provisions of section 145(1) - HC

Rejection of books of accounts - The material purchased in cash or part payment made in cash is fully supported by invoices or vouchers. The same invoices were produced...

Rejection of books u/s 145 - NP estimation - NP ratio of 7% being impractical and completely unacceptable and as most of the trading concerns have been operating at the...

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...

Central Government amends Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016. Key changes: Substitutes form numbers...

Rejection of books of account - the rejection of books of account solely on the basis of non-maintenance of sales vouchers was not justified - AT

Section 145 (1) permits two process of accounting and it is not the case of appellant that double entry system of account is not a recognized mercantile system of...

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...

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...

Rejection of books of account U/s 145(3) - receipt and payment of the freight - providing transportation work of different parties through the third party vehicles - AO...

Rejection of books of accounts – If the books of accounts have never been examined how can the revenue authorities say that the books are not complete - AT

Rejection of books of account - Instead of making the assessment by considering the provisions of section 145(3) read with section 144, the AO has proceeded to make...

Quick Updates: