Once books of accounts are rejected profit has to be estimated

Five Star Construction Company Vs DCIT (ITAT Raipur)

ITAT Raipur held that A.O after rejecting the books of accounts of the assessee could not have based his assessment on the said books of accounts. Accordingly, once the books of account of an assessee are rejected, then profit has to be estimated.

Facts- Survey proceedings under Sec. 133A of the Act were conducted at the business premises of the assessee firm on 11.03.2016. During the course of the survey proceedings sev

Please become a Premium member. If you are already a Premium member, login here to access the full content.