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2004 (5) TMI 19 - RAJASTHAN HIGH COURTRejection of book results - Assessing Officer has rejected the book results of the assessee on the ground that the average cost of production has been increased to Rs. 5,400 P.M.T. as against Rs. 4,217 P.M.T. No justification has been shown for this increase. Even the wages have also been increased. The assessee has also shown no justification for it. Therefore, invoking the provisions of section 145(2), the book results were rejected and additions have been made on the ground of low gross profit shown in the books - What should be the addition after rejection of the book results is basically a question of fact - We see no perversity in the impugned order especially when the Assessing Officer, Commissioner of Income-tax (Appeals) and the Tribunal, all the three authorities have given findings of fact against the assessee. - reference application stands rejected
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