Rejection of books of accounts - estimation of income - ...

Court Rules Income Cannot Be Estimated from Unexplained Investment When Payment Source Is Undisputed.

July 12, 2021

Case Laws Income Tax AT

Rejection of books of accounts - estimation of income - Unexplained Investment in Purchases - A.O has accepted all other transactions of purchases and payment made through bank account of Sikha Jaisawal but pick up this transaction due to the reasons that the same is not recorded in the books of accounts of the assessee. Once, the source of the payment of the purchases is not in dispute then the same cannot be treated as unexplained investment. - AT

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Rejection of books of accounts - estimation of income - ...

Court Rules Income Cannot Be Estimated from Unexplained Investment When Payment Source Is Undisputed.

July 12, 2021

Case Laws Income Tax AT

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