Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (5) TMI 184 - AT - Income TaxRejection of books of account - estimation of profit - specific defect or deficiency not pointed - Held that:- books of account maintained by assessee in regular course of business have to be treated as authentic unless there are strong evidence brought on record to show that entries made in the books of account are not reliable, hence, books of account have to be rejected. We are of the view, before rejecting the books of account AO should not only give adequate opportunity to assessee to explain the entries made therein, but also point out any specific defect or deficiency in the books of account - Matter remanded back - Decided in favour of assessee.
|