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Income Tax - Highlights / Catch Notes

Home Highlights June 2015 Year 2015 This

Rejection of books of accounts - no provision either in the Act ...

Income Tax

June 12, 2015

Rejection of books of accounts - no provision either in the Act or in the Rules requiring an assessee carrying business of nature, to maintain the stock register as a part of its account has been brought to notice - estimation of profit is not justified - AT

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  3. 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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  9. Rejection of books of accounts – If the books of accounts have never been examined how can the revenue authorities say that the books are not complete - AT

  10. Computation of book profit u/s. 115JB - A.O. took the view that the Provision for bonus is a contingent liability and hence, the same is required to be added to the net...

 

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