Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights March 2018 Year 2018 This

Rejection of books of accounts - The finding of "on-money ...

Income Tax

March 22, 2018

Rejection of books of accounts - The finding of "on-money transactions" in the appellant's case by the authorities below is found without any basis and found perverse on facts. It, therefore, could not be a reason for rejecting the books of account maintained by the assessee in regular course of business. - HC

View Source

 


 

You may also like:

  1. Addition for the lesser cash in hand found as compared with the books of account - applicability of section 68 or 69A - it was not a case where money is not recorded in...

  2. Rejection of books of accounts - rejection of books of account by invoking the provisions of section 145(3) - the AO has categorically noted in the assessment order...

  3. Best Judgement Assessment - rejection of books of accounts - Though the Tribunal has recorded that the books of accounts were duly presented when the show cause notice...

  4. Rejection of books of accounts - Estimation of income - The case laws relied upon by the ld. AR are not applicable as per facts of the present case, therefore,...

  5. Rejection of books of accounts - Estimation of income - bogus purchases - Mere certain discrepancy at the entry gate cannot be a basis of rejection of entire books...

  6. Rejection of books of accounts - Addition of unaccounted sales - the material found during the survey proceedings showed that the books of accounts were not correctly...

  7. Without having itself seen the books, the latter observation made by the Tribunal cannot be sustained. Being a fact finding authority and the rejection of books of...

  8. Estimation of net profit - rejection of books of accounts - Once the books of account of the assessee was produced before the lower authorities and if there is certain...

  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. Levy of penalty u/s 271B - not getting books of account audited u/s 44AB - AO has given categorically finding that the assessee had made frequent transaction in both...

  11. Disallowance of raw material consumption - rejection of the books of account - The Appellate Tribunal finds that the AO's ad hoc disallowance without specific reasons...

  12. Estimation of income - rejection of books of accounts - Once it has been found that the assessee has not voluntarily maintained its books of account, as required under...

  13. Rejection of the books of account of the assessee company u/s. 145(3) - Estimation of income - The ITAT found the rejection of books of accounts by the AO unjustified as...

  14. Assessment u/s 153A - Unexplained investment - It is common practice during search proceedings that the revenue seizes the books of account along with incriminating...

  15. Owner of Cash found and seized in course of search - Undisclosed income - presumption u/s 292C - if money is found in possession of any person in course of search u/s...

 

Quick Updates:Latest Updates