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Income Tax - Highlights / Catch Notes

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Rejection of books of accounts u/s 145(3) - estimation of sale ...

Income Tax

June 18, 2014

Rejection of books of accounts u/s 145(3) - estimation of sale and income – there is no weight in the plea that the claim of wastage allowed to the assessee in the subsequent year be adopted - HC

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  2. Rejection of books of accounts u/s 145 (3) - AO by recklessly rejecting the books of account proceeded to estimate the income by applying profit @ 5% of the gross...

  3. Rejection of book result u/s 145(3) - estimation of income - Deduction of depreciation from the estimated income - Depreciation should be allowable being statutory...

  4. Rejection of books of accounts u/s 145(3) - trading addition - Once the books of accounts are rejected, the AO is required to estimate the gross profit in the hands of...

  5. Rejection of books of account and estimation of gross profit - basis of rejection of rejection of accounts by the AO was totally erroneous and uncalled for. - AO has not...

  6. Rejection of Book u/s 145(3) - cash sale of silver - It was obligatory on the Assessees to satisfactorily account for the creditworthiness, identity and genuineness of...

  7. Rejection of books of account u/s.145 is justifiable as two diaries in which unaccounted payments to the partner and unaccounted expenses recorded, were found - AT

  8. Rejection of Books of Accounts - mere disclosure of a low net profit would not enable the AO to invoke the provisions of section 145(1) - HC

  9. Addition made on account for rejection of books u/s 145 - AO has given one hour to produce details - Case remand back to AO - AT

  10. Rejection of books of accounts - rejection of books of account by invoking the provisions of section 145(3) - the AO has categorically noted in the assessment order...

 

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