Home Highlights June 2011 Year 2011 This

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1. Addition u/s 69C - asessing authority could not have referred the matter to the DVO without the books of account being rejected - additions deleted - AT

2. Trading Additions – rejecting of books of accounts - even if the books having been rejected, no addition is called for - AT

3. Unexplained investment - No addition can be made on the basis of the report of the DVO without the books of account being rejected, wherein expenditure relating to the...

4. Difference between the cost of construction as disclosed by assessee and as estimated by the District Valuation Office - no addition could be made without rejecting...

5. Rejection of books of account - trading addition - Assessee cannot claim advantage of lesser addition by getting the books rejected year after year and avoiding the...

6. Assessment u/s 144 - estimation of income - Method of accounting - Non rejection of books of account - disallowance of expenses, addition of inflated purchases and...

7. Maintainability of SCN - Short paid Service Tax - the book of accounts are not rejected and without rejecting the assumption of the gross receipt as taxable service, is...

8. Once the income is estimated, after rejection of books of accounts, no other addition is permissible on the basis of rejected books - AT

9. Genuineness of purchases - AO rightly rejected the books of account and made the additions on estimate basis - jugglery of book entries has been played - HC

10. Addition on account of deposit of cash during the demonetization period - allegation of sham transactions - the AO has acted on mere surmise and conjectures without duly...