Wednesday, May 21, 2014

[aaykarbhavan] AO could not approximate speculative income of entire block considering trading during few days



AO could not approximate speculative income of entire block considering trading during few days

May 22, 2014[2014] 45 taxmann.com 19 (Gujarat)
IT : Where there was no substantial evidence to hold that assessee had carried on badla trade, estimation of speculative income for entire block period only on basis of limited evidence of 22 days of such trading was not justified
IT: In block assessment proceeding, Assessing Officer could not estimate job charge income without any seized material
 
Regards
Prarthana Jalan


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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>


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