The ITAT upheld the CIT(A)'s order rejecting the assessee's ...

New income tax showdown: when tax authorities can ditch your books and make rough calculations.

December 28, 2024

Case Laws Income Tax AT

The ITAT upheld the CIT(A)'s order rejecting the assessee's books of accounts and estimating total income. When books are rejected u/s 145 and income estimated u/s 144, the estimate substitutes business income computed u/ss 30-43D. All deductions u/ss 30-43D are deemed considered in the estimate. The ITAT found no infirmity in rejecting books and estimating income.

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The ITAT upheld the CIT(A)'s order rejecting the assessee's ...

New income tax showdown: when tax authorities can ditch your books and make rough calculations.

December 28, 2024

Case Laws Income Tax AT

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