Notice under s 143(2) — Service of notice by post shall be deemed to be effected where the envelope has been properly addressed, proper stamps affixed and posted by registered post unless the contrary is proved — as held by DelTrib in ADIT v Italian Thai Development Public Co Ltd — In favour of: The revenue.
Accounts — Having accepted a particular amount of estimate for expenditure on the whole project, it is not open to the revenue to challenge this cost and thereafter follow a totally different method for assessment.
Neither disallowance nor the profit can be estimated when the books of accounts are duly audited following the percentage completion method for accounting revenues on the basis of the expenditure.
In favour of: The assessee.
Decided on: 22 September 2011.
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