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| The Tax Publishers2020 TaxPub(DT) 1401 (Del-Trib) INCOME TAX ACT, 1961
Section 145(3)
Perusal of assessment order showed that AO specifically recorded the fact that, 'books of account along with bills and vouchers were called for examination on test check basis.' Even otherwise, AO had not recorded any categoric finding that accounts produced by assessee were defective or incomplete rather rejected the same on the hyper-technical ground that certain details were not brought on record. So, when there was no valid ground for AO to reject books of account , the question of estimating did not arise.
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Accounting method - Rejection - Alleged failure to produce books of account and supporting evidence - AO specifically recorded the fact that, 'books of account along with bills and vouchers were called for examination on test check basis
AO rejected assessee's books of account under on the ground that despite repeated opportunities, assessee failed to produce the books of account and supporting evidence and accordingly, AO made addition estimating profit at a higher rate. Held: Perusal of assessment order showed that AO specifically recorded the fact that, 'books of account along with bills and vouchers were called for examination on test check basis.' Even otherwise, AO had not recorded any categoric finding that accounts produced by assessee were defective or incomplete rather rejected the same on the hyper-technical ground that certain details were not brought on record. So, when there was no valid ground for AO to reject books of account , the question of estimating did not arise.
REFERRED :
FAVOUR : in assessee's favour
A.Y. : 2009-10, 2010-11
INCOME TAX ACT, 1961
Section 37(1)
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