Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2018 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (1) TMI 808 - HC - Income TaxDisallowance of service tax expenditure on freight for transportation of goods - the assessee is not beneficiary of such transport payment in any manner - Held that:- Contention raised by the appellant is required to be accepted inasmuch as the cement industry when transportation is made by the manufacturer and transporter has done service on behalf of appellant assessee. In that view of the matter, he has to realize all expenses of the transporters including tax paid by the transporter. In that view of the matter, issue No.1 is required to be answered in favour of assessee Rejection of entire books of account by invocation of the provisions of section 145(3) - Held that:- In view of observations made by AO that there are serious discrepancies in the stock register, the view taken by the AO as well as CIT (A) is required to be accepted. However, it will be open for the appellant assessee to rely upon the decision of this Court in the case of books of accounts where this Court has taken a view of average GP or NP on the basis of last five years. - Decided against assessee.
|