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2018 (10) TMI 1585 - AT - Income TaxRejection of books of accounts - estimation of profit - estimating the income at 5 percent of gross receipts - Held that:- On identical reasons in earlier A. Y. 2010-11 [2015 (11) TMI 297 - ITAT DELHI] no specific discrepancies or defects in the books of account of the assessee has been pointed out, nor any material was brought to establish that the purchases and expenses had been inflated or the sales had been suppressed and in the absence of any such material or finding given, there was no justification in invoking the provisions of Section 145(2) of the Act. Thus in the present case Assessing Officer was not justified in rejecting the book results without pointing any specific defects in the books of account. - Decided in favour of assessee.
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