Addition made on account of liquor trade - it was only on the ...

Income Tax

August 6, 2012

Addition made on account of liquor trade - it was only on the basis of noting in a rough ledger that the Assessing Officer has jumped to the conclusion that the assessee has earned this much of profit - AT

View Source

← Previous Next →

Addition made on account of liquor trade - it was only on the ...

Income Tax

August 6, 2012

You may also like:

India Poised to be the Leading International Trading Hub for Rough Diamonds Task Group report to make recommendations to help India retain its primacy as a trading hub

Tribunal has erred in law in upholding the deletion of the additions made by the Assessing Officer on the basis of the notebook and the Bank passbook - HC

Assessing Officer certainly cannot decide the nature of share transaction either as trading activity or investments solely on the basis of period of holding of the shares - AT

Revision u/s 263 by CIT - low income from liquor business - the books of account, which are duly audited and furnished before the Assessing Officer, were never rejected...

Disallowance of expenditure - Payment of Privilege fees - Nature of expenditure - Exclusive privilege for wholesale trade of Indian made Foreign Liquor & Beer - claim allowed - AT

Estimation of income based on MRP - retail trade in liquor - estimate of net profit above 5% of the purchases made by the assessee is to be adopted - AT

Addition in gross profit rate – Addition cannot be made on pure conjectures – In case Assessing Officer had doubts over book results counter verifications and other...

Supreme Court disapproved the practice of making additions in the assessment on mere suspicion and surmises or by taking note of the “notorious practice” prevailing in...

Addition on account of unaccounted receipts - When the assessee has asserted before the Assessing Officer that it has not received any such income, the Assessing Officer...

Allocation of quantity of Rough Marble and Travertine Blocks for import for Financial Year 2012-13. - Trade Notice

Quick Updates: