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Case Law Details

Case Name : PCIT Vs Swananda Properties Pvt Ltd (Bombay High Court)
Related Assessment Year : 2005-06
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PCIT Vs Swananda Properties Pvt Ltd (Bombay High Court)

We note that the books of accounts of the Respondent were rejected by the CIT(A) under section 145(3) of the Act. However, the Tribunal found in the impugned order that the invocation of section 145(3) of the Act is unjustified as no defect was noted in the books of accounts to disregard the same. We note that CIT(A) in his order while rejecting the Books of Account does not specify the defect in the record. The basis of the rejection appears to be best judgment of assessment done by him. The rejec

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