10 December 2016
Is there any case law regarding e-comm vendors selling product online. The A.O. had completed assessment u/s 144 and applied NP ratio as per his discretion. Since total turnover is the total credits in bank account where there is no doubt. Only due to not maintaining books of accounts for a turnover of Rs.30 Lacs, he raised huge demand by applying section 144 best judgement assessment.