https://www.taxtmi.com/caselaws?id=282661 The High Court of Andhra Pradesh dismissed the appeal, holding that in cases where profit is estimated without reference to books of accounts, Section 40(a)(ia) of the Income Tax Act, 1961 does not apply. The court emphasized that the provision dictates how to consider deductions when books of accounts are available and should be accepted as fact by the authorities. As a result, any related pending applications were closed, and no costs were awarded in the matter. en-us Thu, 17 Jul 2014 00:00:00 +0530 Sun, 18 Aug 2019 08:32:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282661 The High Court of Andhra Pradesh dismissed the appeal, holding that in cases where profit is estimated without reference to books of accounts, Section 40(a)(ia) of the Income Tax Act, 1961 does not apply. The court emphasized that the provision dictates how to consider deductions when books of accounts are available and should be accepted as fact by the authorities. As a result, any related pending applications were closed, and no costs were awarded in the matter. Case-Laws Income Tax Thu, 17 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282661