Special audit report u/s 142(2A) - An admitted fact on record ...

Audit Order Invalid: AO Ordered Special Audit Without Examining Books of Accounts for 2007-2012 u/s 142(2A).

May 24, 2023

Case Laws Income Tax AT

Special audit report u/s 142(2A) - An admitted fact on record that the AO had no occasion to examine the books of accounts furnished by the assessee, which were actually furnished for A.Y. 2007-08 to 2011-12 on 04.10.2013 whereas order for special audit was passed on 22.03.2013 and pursuant thereto special auditor furnished report on 16.09.2013. - it goes to prove that the order for special audit has been passed in these cases merely on the basis of surmises by the AO as well as the Ld. CIT even without having a look into the books of accounts furnished by the assessee - The assessment order is bad in law - AT

View Source

← Previous Next →

Special audit report u/s 142(2A) - An admitted fact on record ...

Audit Order Invalid: AO Ordered Special Audit Without Examining Books of Accounts for 2007-2012 u/s 142(2A).

May 24, 2023

Case Laws Income Tax AT

You may also like:

Rejection of books of accounts - best judgement assessment - only objection raised by the AO is non-filing of the tax audit report - CIT- A deleting the addition -...

Special audit u/s 142(2A) - complexity in the books of account - AO has carefully scrutinized the objections raised by the Petitioner and has fairly and objectively...

Special audit u/s 142(2A) - satisfaction - The question of complexity of accounts has to be judged applying the yardstick or test; whether the accounts would be complex...

IT, Estimation of income without rejecting books of accounts is arbitrary, addition made by AO deleted

Validity of special audit of the accounts u/s 142(2A) - petitioner has not made any objection regarding procedure followed by the AO or by the Pr. CIT, in the entire...

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...

Penalty u/s 271A and u/s 271B - not maintaining books of account and for not getting the booking of account audited as provided u/s 44AB - Penalties levied u/s 271A for...

Penalty u/s 271A - Non maintaining the books of account - Penalty u/s 271B - non-audit of books of accounts - It is clearly a case of impossibility of performance where...

Special audit u/s 142(2A) - Scope of special audit has widen after amendment in Section 142(2A) w.e.f. 1.6.2013. The special audit can now be directed not only if the...

Validity of special audit u/s 142(2A) - The Jharkhand High Court upheld the orders for a special audit of the petitioner’s accounts for the assessment years 2020-21 and...

Special audit u/s 142(2A) - Period of limitation - reasons for change in accounting system - method of valuation of closing stock - AO does not point out a single...

Addition to assessee's income by enhancing closing stock value made by Assessing Officer (AO) u/s 143(3) was based solely on statement recorded during survey without any...

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...

Validity of Referring the matter to DVO - Additions based on valuation report - The High Court noted that the assessee had filed its return for the relevant assessment...

Penalty u/s 271B - failure to get the books of accounts audited u/s 44AB - addition made during the assessment proceedings on the basis of unaccounted sale cannot be...

Quick Updates: