Enqyuiry for Income Tax

This query is : Resolved

mhurkatbina (Querist)
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09 December 2010 ASSESSE HAVING NO INCOME FROM SALE OF SCRAP BUT ITO ADDING IN THE ABSENCE OF DETAIL.

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CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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10 December 2010 Adding or already added, if added please write the more details, like nature of business , stock reconcliation position. There must be some reason behind adding the scrap income.

mhurkatbina

mhurkatbina (Querist)
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10 December 2010 ITO ISSUED LETTER TO ASSESSEE THAT"ON PERSUAL OF THE PROFIT & LOSS ACCOUNT IT IS NOTICED THAT THE ASSESSEE HAS NOT SHOWN ANY INCOME SHOULD NOT BE MADE IN THE ABSENCE OF DETAIL."

ASSESSEE HAVING DEALERSHIP OF MARUTI CAR

mhurkatbina

mhurkatbina (Querist)
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venkatraman shrinivas

venkatraman shrinivas (Expert)
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10 December 2010 The ITO is patently wrong in making an addition at his whims. He has to definitely identify he source and certainty or close proximity of the assessee having earned income from a particular source.He cannot assume hypothetically. Additions made on surmises and conjectures would never be sustained. Please prefer an appeal before he CIT Appeals.

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