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Once the books of account of an assessee are rejected then profit has to be estimated
Case Law Details
- Case Name
- Dabros Industrial Co. (P.) Ltd. Vs Commissioner of Income-Tax (Calcutta High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Calcutta High Court
We have to ascertain whether there was any evidence or material before the Tribunal to estimate the profits. It is not disputed that the books of account of the assessee were not accepted. That being so, profit had to be estimated. Such estimate was made by the authorities on the basis of the performance of the predecessor-in-interest of the assessee, namely, the partnership firm. On such material the Income-tax Officer, the Appellate Assistant Commissioner, and, the Tribunal came to their respective conclusions. Apart from, the performance of the firm the Tribunal had before it the disclosed ...
