Rejection of turnover appearing in the books of accounts - It is ...

VAT and Sales Tax

November 22, 2021

Rejection of turnover appearing in the books of accounts - It is already well-settled that in the absence of any definite adverse material accounts kept in regular course of business cannot be disbelieved and must be given credence and due weight - In the case in hand, no adverse material whatsoever was brought on record to disbelieve the account books maintained by the revisionist and therefore rejection of account books and enhancement of turnover is uncalled for.- HC

View Source

← Previous Next →

Rejection of turnover appearing in the books of accounts - It is ...

VAT and Sales Tax

November 22, 2021

You may also like:

Estimation of net profit - Rejection of books of accounts - Just because that the assessee is having 5 bank accounts and not shown in the regular books cannot be the...

Estimation of income - Bogus purchases - Rejection of books of accounts - There is no error in the finding of the ld.CIT(A) for rejection of the books of accounts as...

Inter-state sale or not - levy of penalty - The third party having not appeared before the Assessing Officer, the question of drawing adverse inference against the...

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

Rejection of books of accounts - Estimation of income @ 2% of gross sales – mere selling of goods at low margin cannot be made the reason for rejection of books of accounts - AT

Rejection of books of accounts - The lower G.P. Rate never attracts the addition and it cannot be a ground for rejection of the books - HC

Trading addition – rejection of books of accounts and application of higher G.P. rate – even after the rejection of books of account, no trading addition is required to...

Clandestine removal - In the absence of the panchnama, adverse inference cannot be drawn against the respondent - further, the computer prints out are not reliable documents - AT

Rejection of the books of account - since before invoking Section 145, the AO had not given any opportunity to the Assessee and therefore, could not have drawn an...

Rejection of books of account - trading addition - Assessee cannot claim advantage of lesser addition by getting the books rejected year after year and avoiding the...

Quick Updates: