Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2011 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (1) TMI 682 - PUNJAB AND HARYANA HIGH COURTMethod of accounting - operations expenses, rebate and discount claim - Estimation of profit - Merely because the profits are low compared to the earlier year is not a circumstance or material to justify an estimate in the circumstances and facts of the case Regarding discount and rebate since the A.O. has not pointed out any defect or deficiency in the rebate and discount account, no adverse inference can be drawn as to the genuineness of these expenses claimed at Rs. 2,73,680/- under the head rebate and Discount.
|