Without pointing out any defect in the books of accounts just ...

Income Tax

February 13, 2016

Without pointing out any defect in the books of accounts just because there are certain inflated nature of purchases on account of cash payment cannot be the basis for rejection of books of accounts u/s 145 - AT

View Source

← Previous Next →

Without pointing out any defect in the books of accounts just ...

Income Tax

February 13, 2016

You may also like:

Additions on account of difference between the purchase and cost of sales - AO did not point out any defect/discrepancy in books of account - no addition - AT

Bogus purchase - The supplier parties to whom cheque payments were made for purchases booked in books of account, returns the corresponding cash back to the assessee...

Rejection of books of accounts - The material purchased in cash or part payment made in cash is fully supported by invoices or vouchers. The same invoices were produced...

Demand of service tax cannot be confirmed merely on the basis of Form 26AS (TDS statement) - Without looking into the books of accounts, nature of such transactions...

Depreciation in respect of certain capitalized amount in the nature of URD purchases [unregistered dealers] forming part of the building - the assessing officer did not...

Revenue vs. capital expenditure - hire-purchase v/s agreement of lease - right to purchase to be exercised after expiry of certain period - held as lease transaction /...

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

Addition on account of low GP - cause and effect relationship between the defect found by the AO and the addition made - AO rejected the book results as unreliable, but...

Addition on account of excess cash found her in the course of Survey - Once the Assessee has retracted from the statement then it was on the AO to establish beyond any...

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

Quick Updates: