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2013 (10) TMI 274 - AT - Income TaxRejection of books of accounts maintained u/s 145 of the Income tax act – Held that:- No specific defects has been pointed out by the Assessing Officer in the books of accounts and since the Assessee has been consistently following the Project Completion Method of accounting in the year under appeal and in earlier years and on the basis of the same, the Assessee has been allowed deduction under 80IB in the past in the assessment framed u/s. 143(3) - A.O. was not justified in rejecting the books of accounts - Further even the estimated an addition of Rs. 8 lakhs upheld by CIT(A) is not supported by any specific finding of CIT(A) or material on record - No rejection of books is called for year under appeal – Reliance has been placed upon the judgment of the Hon’ble Gujarat High Court in the case of CIT vs Symphony Comforts System Ltd. [2013 (10) TMI 258 - GUJARAT HIGH COURT] - Decided against the Revenue.
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