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2018 (5) TMI 1022 - AT - Income TaxDisallowance of salary and interest paid to the partners - estimation of income - rejection of books of accounts - determination of income - Held that:- Assessment has been made by the Assessing Officer by estimating the income of the assessee by rejecting the books of account by invoking the provisions of section 145(3) of the Act as he was not satisfied about the correctness of the book results of the assessee. Thus, it is not a case where the assessment is made by the Assessing Officer u/s.144 of the Act. It is a case where assessment u/s.143 is made in a manner laid down u/s.144. - Assessing Officer directed to determine the income of the assessee after allowing deduction for payment of salary and interest to partners from the estimated income of the assessee - Decided in favour of assessee.
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