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of <h1>Rajasthan High Court affirms book results rejection, remits to Assessing Officer for detailed reasons</h1> <h3>Narsinghdas Ramakishan Pungaliya Versus Assistant Commissioner Of Income-Tax.</h3> The High Court of Rajasthan upheld the rejection of the assessee's book results and remitted the matter back to the Assessing Officer for detailed reasons ... Rejection of accounts u/s 145(3) - '(i) Whether the non-maintenance of brandwise record of sales of deshi ghee can be a ground for rejection of accounts under section 145(3) particularly when the purchase and sales are duly vouched and audited and the stock is maintained? (ii) Whether Tribunal was justified in upholding the order of the assessing authority rejecting the accounts of the appellant when the account books of the appellant maintained in the same style and fashion for preceding and succeeding assessment years have been accepted?' - We are also of the view that the book results were rightly rejected by the Assessing Officer. But we are also of the view that when book results are rejected there should be best judgment assessment whereby a reasonable income should be taxed – But we remit the matter back AO to give reasons in detail why the sale has been increased from Rs. 2,07,76,233 to Rs. 3,37,00,000 The High Court of Rajasthan upheld the rejection of the assessee's book results but remitted the matter back to the Assessing Officer for detailed reasons on increasing the sales amount. The Tribunal's decision on the rejection of the books of account was upheld. The case was disposed of accordingly.
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