[aaykarbhavan] AO couldn't make addition on estimated basis without rejecting books of account

 

AO couldn't make addition on estimated basis without rejecting books of account

November 11, 2014[2014] 49 taxmann.com 489 (Jodhpur - Trib.)/[2013] 158 TTJ 25 (Jodhpur - Trib.)

IT : Without rejecting books of account addition on estimate basis was not justified

IT : Where assessee earned dividend on investment in tax-free bond and such investment was made out of partners' current capital which was non-interest bearing, no disallowance could be made under section 14A

IT : Where assessee pledged FDR as security for EOU, interest on same was to be considered as export income eligible for deduction under section 10B

Regards

Prarthana Jalan

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

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