Forgot password
New User/ Regiser
⇒ Register to get Live Demo
2013 (3) TMI 672 - HC - Income Tax
Assessment u/s 143 & 144 - The AO, during the course of assessment, made additions without rejecting the books of account. CIT (A) held that the AO ignored the basic facts by making addition for opening stock, purchases and other expenses in as much as the opening stock and purchases are part of trading account, as shown in the audited accounts and that therefore, they cannot be rejected without rejecting the books of account. - HELD THAT:- CIT (A)'s order upheld relying on the decision of hon'ble Supreme Court in BRIJ BHUSHAN LAL PARDUMAN KUMAR, ETC. VERSUS COMMISSIONER OF INCOME-TAX, HARYANA, HIMACHAL PRADESH AND NEW DELHI-III (AND OTHER APPEALS) [1978 (10) TMI 2 - SUPREME COURT]
Decision in favor of Assessee.
|
|