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2016 (1) TMI 985 - AT - Income TaxRejection of books of accounts u/s 145(3) - addition on account of low net profit - CIT(A) deleted addition - Held that:- CIT(A) was fully justified in observing that the Assessing Officer was not justified in rejecting the assessee’s books result u/s 145(3) of the Act. The CIT(A) has also rightly observed that the action of Assessing Officer was also not justified in applying the provisions of Section 44AD since the assessee’s total turnover was ₹ 3.36 crores; accordingly, the CIT(A) has rightly deleted the addition. This reasoned factual finding needs no interference from our side. We uphold the same. - Decided in favour of assessee.
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