This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Audited books cannot be rejected in a casual manner
Case Law Details
- Case Name
- ACIT Vs M/s. Mackintosh Burn Ltd (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Kolkata
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
ACIT Vs M/s. Mackintosh Burn Ltd (ITAT Kolkata)
The issue is whether the addition in question can be made u/s 41(1). The ld. CIT(A) has already concluded that no additions can be made u/s 41(1) of the Act. He agreed that the propositions of law cited by the assessee are in its favour and hence addition u/s 41(1) of the Act is bad in law. While doing so, the ld. CIT(A) has surprisingly restricted the disallowance to 50% of the outstanding balance on an ad hoc basis. This is not permitted in law. The ld. CIT(A) rejected the books of accounts. When the Assessing Officer has not rejected the book...
