Adhoc Disallowance made without Rejecting Books of Account is Invalid: ITAT [Read Order]

The court observed that when books of account maintained by the assessee having been duly audited have not been rejected by the AO the ad-hoc disallowance made based on surmises is not sustainable.
Adhoc Disallowance - Rejecting Books of Account - ITAT - TAXSCAN

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the ad hoc disallowance made without rejecting books of account was not justified and needed to be deleted. The court observed that when books of account maintained by the assessee having been duly audited have not been rejected by the AO the ad-hoc…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1599 + GST for 1 year

Subscribe Now

taxscan-loader