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Case Law Details

Case Name : Rakesh Kumar Jha Vs ITO (ITAT Ranchi)
Related Assessment Year : 2008-09
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Rakesh Kumar Jha Vs ITO (ITAT Ranchi)

Assessee has been running the business of imparting tuition classes. As per the statement of facts furnished by the assessee, assessment was made on estimation basis on account of non-maintenance of books of accounts applying provisions of section 145(3) being 8% of gross receipts u/s 145(3) . Assessee was required to get his books of account audited as required u/s 44AB and on account of failure to do so, the AO levied 271B penalty which was confirmed by CIT(A).

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Author Bio

CA Vijayakumar Shetty qualified in 1994 and in practice since then. Founding partner of Shetty & Co. He is a graduate from St Aloysius College, Mangalore . View Full Profile

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