It is well settled that in case the books of accounts are rejected the income of the business in which the Assessee was engaged can be determined by estimating the profit rate considering past history.
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128 total views INCOME TAX OFFICER vs. ASHOK KUMAR PROP. M/S CHHABRA TIMBER STORE IN THE ITAT CHANDIGARH BENCH ‘A’ N.K. SAINI, VP & RAJPAL YADAV, JM. ITA No. 12/Chd/2019 8 Nov, 2019 Section 36(1)(iii), 44AB, 133A, 143(1), 143(3), 144, 145(3…