ITR Filed without Regular Balance Sheet and Profit & Loss Account is Defective, not invalid; AO holds Responsibility for Notifying Defects: Supreme Court [Read Judgement]
The Income Tax Department seized the books of accounts, resulting in their non-submission with the Income Tax Returns (ITRs)
By Navasree A.M - On January 25, 2024 12:45 pm - 3 mins read
The Supreme Court has asserted that Income Tax Returns ( ITRs ) filed without a regular balance sheet and profit and loss account may be deemed defective but are certainly not invalid. The decision, delivered by the bench of Justice B.V. Nagarathna and Justice Ujjal Bhuyan, overturned the previous decision of the Kerala High Court…
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
