The Tribunal held that the AO’s rejection of books under Section 145(3) was unsustainable as no specific defects were identified. The ruling confirms that estimation of income cannot be based on ...
What are books of accounts? Are they “actual” books that have to be kept manually? Can I already do it electronically? In most cases, yes, books of accounts are actual books that you have to fill out ...
The Tribunal upheld the rejection of unreliable books but ruled that the AO could not estimate net profit at 12% without justification, vacating ₹65.08 lakh ...
A company exists as a separate legal entity, and it is defined by what it is (in its memorandum and articles of association) and what it does Keeping track of the activities of a company is therefore ...
It is assumed that you are a tax resident of India, under the Income-tax Act, 1961. As per Section 44ADA of the Act, any resident taxpayer who is engaged in a prescribed profession (such as ...
NEW YORK (AP) — Deborah Caldwell-Stone, director of the American Library Association’s Office for Intellectual Freedom, has never been so busy. “A year ago, we might have been receiving one, maybe two ...
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