143(3) of the act

This query is : Resolved

Paras Kariya (Querist)
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02 November 2011 Dear Member / Sir,

My query is below:

If the asst. order given as per provision of section 145(3) of the Act for fare estimate.

Please guide if the party by nature govt. contractor and the all books of account produce in front of the authority than after he didnot satisfy due to not maintaing labour register, log book of machinery, low profitablity etc.

There is any appeal format as well as any favourable case for justify the given reason than please send me

thanks and have a great new year to all.

Paras

U S Sharma

U S Sharma (Expert)
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02 November 2011 depending on size of business, registers and records have to be maintained upto the satisfaction of the assessing authority.

mere telling that the assessee did not maintained the records leads to manipulation, any private record for reconcilation of expenses towards the scurtiny subjects had to be produced to the AO for their verification at the time of assessment,

assessee can go for appeal, but as the order has been issued, assesee has no option but to make private records to produce at the hearing under appeal, and make it justified with the financial summery produced in returns.