Law: Income Tax Act, 1922

Section: 13,66A

(a) Income tax Ad (XI of 1922)----S. 13, proviso (1) Interpretation of S. 13, Proviso (1)-Rejection of account version of assessee by I. T. O. Income tax Officer, tender S. 13, proviso has discretion to reject accounts books of assessee, provided assessee does not adhere to method of accounting regularly employed or if method employed by assessee is such, that in his opinion income, profits and gains cannot properly be worked out there from Income tax Officer, in assessment order mentioned that "the circumstances of case and method of accounting of assessee remain same as that of last year" and rejected assessee's trading account as ground of declaring low rate of gross profit and that it was not possible to co relate expenses incurred with business secured and assessee could not rebut defect pointed out by Income tax Officer Held, grounds mentioned in order of Income tax Officer invoking proviso 1 to S. 13 did not fall within ambit of said proviso. (1980) 42 Tax. 119; (1982) 45 Tax. 140; (1974) 29 Tax. 120; (1974) 30 Tax. 27; (1973) 87 I T R 370; (1982) P T D 185 and 1979 S C 949 ref. (b) Income tax Act (XI of 1922) --S. 13, Proviso (1) Rejection of account version of assessee to Income tax Officer Rejection of assessee's account solely on ground that it was not possible to co relate expenses incurred with business secured as shown in account books, were highly inaccurate and/or suppressed Nothing present in assessment order to show that there was any evidence on record that account books maintained by assessee were manipulated in respect of business secured by asses¬see Held, in absence of such finding of fact supported by material on record, proviso 1 of S. 13 could not be available to Income ¬tax Officer for rejecting trading accounts of assessee. (1980) 42 Taxation 119; (1982) 45 Taxation 140 and (1974) 29 Taxation120 fol. P L D 1979 S C 949 ref. (c) Income tax Act (XI of 1922) -- S 66 A Reference to High Court Hint Court can interfere with findings arrived at by Income tax Officer and Appellate Tribunal which are not supported by any material on record. (d) Income tax Act (XI of 1922)- Ss. 13, proviso (1) & 66 A Neithep Income tax Officer nor…

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