Tag: Best Judgment Assessment 144
Even in best judgment assessment, AO is required to look into surrounding circumstances, nature of expenditure claimed by other assessees in similar line of business ABCAUS Case Law Citation:ABCAUS 3156 (2019) (09) ITAT Even best judgment assessment AO required look into surrounding circumstances In the instant case, appeal …
Disallowance u/s 184(5) not have cause and effect relationship with assessment being framed under section 144 – ITAT upheld additions ABCAUS Case Law Citation: ABCAUS 2930 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties M/s. Jai Hanuman Enterprises vs ITO The appellant assessee was a …
The assessee was not prejudiced when AO disallowed only 10% of expenses instead of rejecting the books u/s 145 and pass best judgment assessment order under Section 144- High Court ABCAUS Case Law Citation: ABCAUS 2488 (2018) 08 HC The instant appeal was filed by assessee against the …
Partners Salary and interest not disallowable when assessment u/s 143 is made in the manner laid down u/s 144 by rejecting books of account by invoking the provisions of section 145(3) of the Income Tax Act, 1961 ABCAUS Case Law Citation ABCAUS 2371 (2018) 06 ITAT The assessee …
Revision u/s 263 not justified in case of best judgment assessment u/s 144 for non co-operation by assessee INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR I.T.A No. 220(Asr)/2015 Assessment Year: 2010-11 M/s Sutlej Wine Enterprises (Appellant) vs. PrCIT (Respondent) Date of Order: 10/03/2016 ORDER PER T. S. KAPOOR (AM): …
