https://www.taxtmi.com/forum/issue?id=2881 An assessing officer may not lawfully estimate income by applying a turnover percentage where audited books exist unless the books have been rejected with recorded reasons and evidence; absent such rejection an estimate is improper. Separately, labour expenditure earlier disallowed for failure to deduct tax at source should be allowed as a deduction where the tax was paid in the relevant fiscal year, and this entitlement is independent of a subsequent turnover-based estimation. en-us Wed, 09 Mar 2011 22:52:34 +0530 Thu, 23 Jan 2025 15:58:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=2881 An assessing officer may not lawfully estimate income by applying a turnover percentage where audited books exist unless the books have been rejected with recorded reasons and evidence; absent such rejection an estimate is improper. Separately, labour expenditure earlier disallowed for failure to deduct tax at source should be allowed as a deduction where the tax was paid in the relevant fiscal year, and this entitlement is independent of a subsequent turnover-based estimation. Discussion-Forum Income Tax Wed, 09 Mar 2011 22:52:34 +0530 https://www.taxtmi.com/forum/issue?id=2881