Proper findings u/s 145(3) of Income Tax are essential for Rejection of Books of Account: ITAT [Read Order]

The tribunal noted that the AO was unable to find any defects in the books of account during the second round of litigation
By Sneha Sukumaran Mullakkal - On August 30, 2024 4:48 pm - 2 mins read
ITAT - ITAT Jaipur - Income Tax Appellate Tribunal - Income Tax - Books of Account - show cause notice - TAXSCAN

The Jaipur Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that proper findings under section 145(3)  of Income Tax Act,1961 are essential for rejecting books of account. They found that the assessment lacked a show cause notice and did not meet the criteria for section 145(3), leading to a decision in favor of…

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