Tag: rejection books accounts
Rejection of books of accounts for non maintenance of stock register or incorrect valuation method or non compliance with accounting standard not sufficient. ABCAUS Case Law Citation:ABCAUS 3328 (2020) (07) ITAT Important case law relied upon by the parties:ACIT vs. Yerra Nagabhushanam (1997) 226 ITR 843, 849 (AP)Kunhambu …
Rejecting books of accounts duly audited by CA u/s 44AB on the basis of presumptions without making any investigation is erroneous – ITAT ABCAUS Case Law Citation:ABCAUS 3054 (2019) (07) ITAT The instant appeal was filed by the assessee against the order of the CIT(A) in inter alia …
The marginal fall in GP ratio compared to preceding year and non-incurring of expenditure like travelling, telephone, salary, etc. are not the relevant reasons for rejecting of books of accounts under section 145 of the Income Tax Act – ITAT ABCAUS Case Law Citation: 1010 2016 (09) ITAT …
Books non-rejection and making additions than estimating income wrong when there were defects in accounts produced and many accounts not produced – ITAT ABCAUS Case Law Citation: 992 2016 (08) ITAT Assessment Year: 2006-07 Date/Month of Judgment: August 2016 Brief Facts of the Case: The assessee was a partnership …
