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        Case ID :
        Income Tax

        ITAT upheld partial rejection of books under s.145(3) due to...

        Tax Court Confirms Rs.1 Lakh Addition u/s 145(3) for Unverifiable Cash Vouchers Despite Clean Tax Audit Report.

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                ITAT upheld partial rejection of books under s.145(3) due to unverifiable self-made cash vouchers, though specific quantification was lacking. Given turnover of Rs.4,00,48,401 showing only 4% variance from previous year, ITAT confirmed addition of Rs.1,00,000 despite assessee's tax audit report and claimed receipted vouchers. On interest income from JSPL reflected under business income, matter remanded to AO for verification whether funds were invested for business expediency rather than mere surplus fund investment to determine appropriate head of income classification between business income versus income from other sources. Addition sustained but limited to Rs.1,00,000 considering overall circumstances and to end protracted litigation.
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