| COURT: | ITAT Chandigarh |
| CORAM: | Bhavnesh Saini (JM), T. R. Sood (AM) |
| SECTION(S): | 144 |
| GENRE: | Domestic Tax |
| CATCH WORDS: | Best Judgement assessment |
| COUNSEL: | N. K. Sahi |
| DATE: | August 12, 2015 (Date of pronouncement) |
| DATE: | August 13, 2015 (Date of publication) |
| AY: | 2010-11 |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| S. 144: If books are rejected and Gross Profit rate is estimated, separate disallowance of expenses cannot be made | |
When such an estimate is made it is in substitution of the income that is to be computed under s. 29. In other words, all the deductions which are referred to under s. 29 are deemed to have been taken into account while making such an estimate. This will also that the embargo placed in s. 40 also taken into account
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