Enqyuiry for Income Tax
This query is : Resolved
09 December 2010
ASSESSE HAVING NO INCOME FROM SALE OF SCRAP BUT ITO ADDING IN THE ABSENCE OF DETAIL.
HOW TO ANSWER THIS
HOW TO ANSWER THIS
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.
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
ASSESSEE HAVING DEALERSHIP OF MARUTI CAR
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
ASSESSEE HAVING DEALERSHIP OF MARUTI CAR
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- Average Cost Of High Quality Diamonds
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
