{"id":35145,"date":"2023-07-29T01:02:40","date_gmt":"2023-07-28T19:32:40","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=35145"},"modified":"2023-07-31T07:20:27","modified_gmt":"2023-07-31T01:50:27","slug":"sec-144-and-sec-68","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/sec-144-and-sec-68\/","title":{"rendered":"Sec. 144 and sec 68"},"content":{"rendered":"<p>Assessee is Private Limited co ,engaged in manufacturing of spices and pickles , \u00a0has filed the ROI declaring loss for AY. 2018-19 amounting to Rs 2620000,\/ &#8211; which includes Dep of Rs. 6 lakhs . It has also carried forward Business loss of Rs. 6 lakhs and Depreciation loss of 15 lakhs .<\/p>\n<p>Case was selected for scrutiny assessment and AO completed the assessment u\/sec. 144 by computing loss at zero and making addition of Rs 20 lakhs u\/sec. 68 of the Act on the ground that assessee has not responded to notices issued by AO.<\/p>\n<p>Whether action of the AO is justified ?<\/p>\n<p>Whether AO can make addition u\/sec. 68, when he rejected books n passed order u\/Sec.144 of the Act on the ground of non compliance of notice issued u\/Sec. 143(2) of the Act.<\/p>\n<p>Pl guide<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[139],"qa_category":[23],"qa_tag":[287,218],"class_list":["post-35145","qa","type-qa","status-publish","hentry","qa_expert-research-team","qa_category-income-tax","qa_tag-best-judgement-assessment","qa_tag-unexplained-cash-credit"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/35145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=35145"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=35145"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=35145"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=35145"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=35145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}