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Income Tax - Highlights / Catch Notes

Home Highlights May 2015 Year 2015 This

Rejection of books of accounts - it is seen that the ...

Income Tax

May 23, 2015

Rejection of books of accounts - it is seen that the Inspector's Report cannot lead to any conclusion that the generation of Scrap was shown by the Assessee at any inflated figures - AT

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  1. Exemption u/s 11 - registration u/s 12A denied merely on the basis of the Report of the Inspector - CIT(Exemption) was under duty to provide the copy of the report of...

  2. Rejection of books of account - accounting for scrap - When no defect was pointed out in the books of account even during the course of scrutiny assessment and when the...

  3. Copy of inspectors report shall be made available only to members, creditors or any other person whose interest is likely to be affected - Section 223 of the Companies Act, 2013

  4. The report of the Valuation Officer cannot form the foundation for rejection of the books of account - HC

  5. Classification of imported goods - Lead Concentrate - waste and scrap of lead in powder form - the item falls under the classification of Heading ‘Concentrate’ under 26070000

  6. Rejection of the books of account - since before invoking Section 145, the AO had not given any opportunity to the Assessee and therefore, could not have drawn an...

  7. Unexplained share capital - The sole basis for making addition about these companies is the inspector report. No doubts have been raised by the Assessing Officer about...

  8. 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...

  9. Deduction u/s 80IC - The allegation of the AO is that assessee has shown the higher profit in the books of accounts to claim the excess deduction u/s 80IC - AO failed to...

  10. Rejection of books of account - the rejection of books of account solely on the basis of non-maintenance of sales vouchers was not justified - AT

 

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