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Income Tax - Highlights / Catch Notes

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Invocation of Section 145 - rejecting the books of accounts - ...

Income Tax

July 29, 2017

Invocation of Section 145 - rejecting the books of accounts - When there are audited accounts of an entity and the calculation of the GP ratios hinges upon their analysis, the AO should not lightly undertake an exercise that would amount to negating those accounts. - HC

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