Ad-hoc disallowance of 25% of construction expenses - AO ...

Case Laws Income Tax

July 16, 2019

Ad-hoc disallowance of 25% of construction expenses - AO rejected the books of accounts u/s 145 - the income of the assessee should be based on average GP declared by the assessee in the preceding years or the prevailing GP in the same trade or business - disallowance of expenses is not a permissible course of action.

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Ad-hoc disallowance of 25% of construction expenses - AO ...

Case Laws Income Tax

July 16, 2019

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