![AO should Point out Specific Defect while rejecting Books of Accounts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Assessing-Officer-ITAT-Taxscan.jpg "AO should Point out Specific Defect while rejecting Books of Accounts: ITAT [Read Order]")
AO should Point out Specific Defect while rejecting Books of Accounts: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the Assessing Officer should point out the specific defect while rejecting...
![Goods can’t be treated as ‘Smuggled’ in the absence of Books of Accounts, IT or Sales Tax Registartion: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/07/Confiscate-Goods-Taxscan.jpg "Goods can’t be treated as ‘Smuggled’ in the absence of Books of Accounts, IT or Sales Tax Registartion: Bombay HC [Read Judgment]")
![Trust not Entitled to Exemption since it had not Maintained Books of Accounts in respect of its Incidental Business: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/11/Trust-Taxscan.jpg "Trust not Entitled to Exemption since it had not Maintained Books of Accounts in respect of its Incidental Business: Bombay HC [Read Judgment]")
![Assessing Officer cannot Estimate Income If the Books of Accounts are Correct: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Assessing-Officer-Taxscan.jpg "Assessing Officer cannot Estimate Income If the Books of Accounts are Correct: ITAT [Read Order]")
CBEC on Maintenance of Books of Accounts relating to Additional Place of Business for the purpose of Auction of Tea, Coffee, Rubber etc [Read Circular]
The Central Board of excise and Customs (CBEC) last day issued a clarification in respect of maintenance of books of accounts relating to additional place of business by a principal or an auctioneer...
![CBEC on Maintenance of Books of Accounts relating to Additional Place of Business for the purpose of Auction of Tea, Coffee, Rubber etc [Read Circular]](https://www.taxscan.in/wp-content/uploads/2017/12/Books-of-Accounts.jpg "CBEC on Maintenance of Books of Accounts relating to Additional Place of Business for the purpose of Auction of Tea, Coffee, Rubber etc [Read Circular]")
Pre-Operative Expenses are ‘Revenue’ in Nature though It was Shown as Capital in the Books of Accounts: Bombay HC [Read Order]
A division bench of the Bombay High Court recently held that pre-operative expenses incurred by the assesse-Companies are ‘revenue’ in nature even if the same was shown as capital in the Books of...
![Pre-Operative Expenses are ‘Revenue’ in Nature though It was Shown as Capital in the Books of Accounts: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/07/Revenue-Expenditure-Bombay-HC-Taxscan.jpg "Pre-Operative Expenses are ‘Revenue’ in Nature though It was Shown as Capital in the Books of Accounts: Bombay HC [Read Order]")
AO cannot Make Addition for Investment in Stock Out of Undisclosed Sources if he does not Rejected the Books of Accounts: Allahabad HC
The division bench of the Allahabad High Court, in CIT & Anr v. M/S Pashupati Nath Agro Food Products Pvt. Ltd. Hardoi, observed that if the Assessing Officer (AO) has not rejected the books of...
Entries in Loose Papers/Sheets are not ‘Books of Accounts’ and has No Evidentiary Value: SC [Read Judgment]
In a recent ruling, the two-judge bench of the Supreme Court of India held that the entries in loose papers/sheets are not ‘books of accounts’ and has no evidentiary value under section 34 of the...
