Penalty u/s. 271-A - non-maintenance of books of account ...

Taxpayer Penalized for Not Keeping Books as Required by Section 44AA; Lower Profits Claimed Breached Section 44AF.

February 13, 2013

Case Laws Income Tax AT

Penalty u/s. 271-A - non-maintenance of books of account required u/s. 44AA - assessee claimed lower profit - Non compliance of section 44AF - Penalty confirmed. - AT

View Source

← Previous Next →

Penalty u/s. 271-A - non-maintenance of books of account ...

Taxpayer Penalized for Not Keeping Books as Required by Section 44AA; Lower Profits Claimed Breached Section 44AF.

February 13, 2013

Case Laws Income Tax AT

You may also like:

Levying MAT u/s 115JB - 100% reduction of the profit u/s. 80IB(10) - while computing the book profit u/s. 115JB appellant had reduced it from book profit and claimed...

MAT - computation of income u/s 115JB - unabsorbed depreciation and book loss furnished by the assessee for computation of Book Profit u/s 115JB - adjudicating...

Computation of book profit u/s 115JB does not allow inclusion of capital gain from sale of flats with indexed cost benefit. Section 115JB requires calculation of book...

Income Tax: Limit of remuneration to working partners in partnership firms allowed as deduction increased - on first Rs 6,00,000 of book profit or loss, Rs 3,00,000 or...

Estimation of gross profit - assessee had given a reasonable explanation for the lower gross profit shown by it during the relevant previous year - addition for lower...

Computation of book profit u/s. 115JB of the Act by excluding prior period item - difference in net profit/loss taken by the assessee and the AO on account of provision...

The Income Tax Appellate Tribunal examined the determination of net profits from contract business, rejection of books of accounts, and addition u/s 40(a)(ia) for...

MAT computation u/s 115JB - In this case, the assessee had incurred business loss / depreciation losses as per books in the AYs 1999-00 & 2000-01 & AYs 2011-12 & 2012-13...

The provisions of section 69A allow for additions if the assessee is found to be the owner of unrecorded money, bullion, jewelry, or valuable articles. However, when...

Estimation of income - bogus purchases - quantification of profit - The Tribunal noted that during investigations, the alleged suppliers were identified as bogus...

Computation of book profit u/s. 115JB - A.O. took the view that the Provision for bonus is a contingent liability and hence, the same is required to be added to the net...

Adjudication of SCN that was kept in call book for 14 years - The applicant claimed that the show-cause notice had been kept in the call book for 14 years and later...

MAT - computation of book profit u/s 115JB - The claim of the assessee that the starting point of computation of ‘book profit‘ under Sec. 115JB should be the profit as...

The assessee had not computed income under the provisions of Minimum Alternate Tax (MAT) and had not computed book profit, claiming that the provisions of MAT were not...

Books of accounts accepted as maintained properly. Net profit not estimated by authorities as gross profit rate improved compared to previous year. Fall in net profit...

Quick Updates: