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2016 (5) TMI 752 - AT - Income TaxRejection of books of accounts - addition to book profits - addition towards difference in balances of sundry creditors - Held that:- AO on one hand had rejected the books of account and on the other hand resorted to make various additions by relying on the same rejected books of account u/s. 145(3) of the Act. In these circumstances, the ld.AO ought to have resorted to estimate the business profit in a rational manner. To meet the ends of justice, we deem it fit and appropriate , to direct the ld.AO to adopt 8% of the turnover of the assessee’s business as taxable business profits
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