[aaykarbhavan] book results declared by the assessee cannot be disturbed unless the books of account maintained by the assessee are specifically rejected

 

SK. Sajdeh & Sons Pvt. Ltd. Versus Income Tax Officer Mumbai itat

Valuation of stock and trading addition u/s 145 - Held that:- The basic contention raised before the CIT(A) that the books of account regularly maintained by the assessee and duly audited by the auditors were not rejected by the AO by pointing out any material or specific defects and in the absence of the same, trading addition made by the AO is not sustainable - the books of account regularly maintained by the assessee and duly audited by the auditors are not rejected by the AO by pointing out any material is specific defects and this position clearly evident from the order of the AO - the book results declared by the assessee cannot be disturbed unless the books of account maintained by the assessee are specifically rejected by the AO by pointing out any specific or material defect – order of the CIT(A) set aside – Decided in favour of Assessee

Regards

Prarthana Jalan

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

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