AO cannot apply Wrong Method to Determine Profit in the Absence of Audited Financials of AE: ITAT [Read Order]

AO - Wrong Method - Determine Profit - Absence - Audited Financials of AE - ITAT - Taxscan

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that the AO cannot give benefit to the assessee for non-cooperation in providing audited financials of associated enterprises (AE). The appellant/assessee company, Olympus India, incorporated on October 20, 2009, is a wholly owned subsidiary of Olympus Corp. The company is engaged in the…

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.)
  ₹1199 + GST for 1 year

Subscribe Now

taxscan-loader