Rejection of books of accounts u/s 145 3
WebRejection There is no justification for rejecting assessees books of account or applying higher GP NP rate on the ground of decline in GP NP rate or the alleged difference in the accounts of the said three parties as assessee having explained www.Taxlok.com Contact No. 07597741801 WebRejection of books of accounts u/s 145(3) - On money receipt - estimation of income - considering the facts that the project undertaken by the assessee comes under deduction …
Rejection of books of accounts u/s 145 3
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WebJul 18, 2024 · The Income Tax Act, 1961 does not permit such a hybrid system of accounting as per section 145 of the Act. Decision in CIT v. Mc Millan and Co. (1958) 33 … WebJul 4, 2024 · 4) Similar issue arose in AY 2011-12 in the case of assessee and the matter travelled upto ITAT. In AY 2011-12, the ld AO rejected the books of account on the same ground. Ld CIT(A) upheld rejection of books of account. Honble ITAT has not upheld the rejection of the books of account. The findings of Honble ITAT are reproduced as under:- …
WebSection 145 of the Income Tax Act, 1961 — Accounting — Rejection of accounts — When the books of account were to be rejected under section 145(3) and in a best judgement … WebRejection of books of account u/s 145(3) - non maintenance of stock register was not sufficient for exercising the power of rejecting the books of the assessee. - It is not unusual for businesses dealing in large number of small items and operating at a small or medium scale to do away with the maintenance of any stock register since it is not feasible …
WebS. 145(3): Entire law explained explained on whether if the AO rejects the books of account, he can rely on the entries in the books to make disallowances u/s 40A(3) and s. 68 and …
WebMay 18, 2024 · ADENINE review of the shocking accounting scandals through past, from Enron to the Lehman Brothers and Olympus, provide authoritative answers to the question …
WebJan 4, 2007 · PER B.R.JAIN, AM:- This appeal by assessee against order dated 12/3/2013 of Ld. CIT(A)-II, Jaipur raises the following grounds:- 1. On the facts and in the … trends fashion spring 2020WebRejection of books of accounts u/s 145(3) - assesee was dealing in gems and jewellery - It is difficult to maintain the stock register in this line of business of the assessee. The number … trends fashion summer 2023WebAbeBooks.com: The Revised Reports, Being a Republication of Such Cases in the English Courts of Common Law and Equity, From the Year 1785, as Are Still of Practical Utility, … temporada 5 young sheldonWebThe fact that the books of accounts have not been produced before the AO is not disputed and hence I find that the AO is justified in rejecting the books of accounts of the assessee … trends fashion shopWebthe assessee to explain why the books of accounts of the assessee for the period under consideration shall be rejected u/s 145 of the Act as the assessee had made sales … trends february 2012WebLaw and Practice : Digital eBook. Research is most exciting & rewarding. Share: Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights What's New. Home. Advanced Search. Union Budget - 2024. Income Tax. Direct Taxes Rules, Regulations. temporada 6 young sheldonWebsub-Section (1) of Section 145. Further, books of account itself by virtue of said sub-section, read with ... 143. 10.3 Instances of rejection of books of account – ♦ Where entries in … trends food branche