Rejection of books of accounts - Fall in GP - variation in Power ...

Case Laws Income Tax

October 3, 2019

Rejection of books of accounts - Fall in GP - variation in Power (Electricity) Consumption - assessee has given cogent explanation for the fall in G.P. as well as non-production of supporting documents. In the absence of any rebuttal or attempt by the Revenue, No addition can be made.

View Source

← Previous Next →

Rejection of books of accounts - Fall in GP - variation in Power ...

Case Laws Income Tax

October 3, 2019

You may also like:

Trading addition – rejection of books of accounts and application of higher G.P. rate – even after the rejection of books of account, no trading addition is required to...

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

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

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...

Additions against reduction in Gross Profit Rate (GP rate) - rejection of books of accounts - - The assessee has already advanced the reasons for low profit and has...

Estimation of income - Rate of Gross profit (GP) - rejection of books of account - Since the average of past history of GP declared by the assessee is considered as a...

Rejection of books of accounts - GP addition/estimation - Non maintenance of records of quantitative details renders the accounts of assessee incomplete. Preparation of...

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...

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...

Best Judgement Assessment - rejection of books of accounts - Though the Tribunal has recorded that the books of accounts were duly presented when the show cause notice...

Fall in GP rate - increase in cost of purchase - 95% of sales were made to related parties - Since no explanation was offered by the assessee before the AO regarding...

Rejection of books of accounts - Estimation of income - The case laws relied upon by the ld. AR are not applicable as per facts of the present case, therefore,...

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

Rejection of books of accounts - Estimation of income @ 2% of gross sales – mere selling of goods at low margin cannot be made the reason for rejection of books of accounts - AT

Lower yield declared by the assessee - excessive consumption of electricity / power / furnace - variation in consumption of electricity, furnace oil vis-à-vis production...

Quick Updates: