https://www.taxtmi.com/caselaws?id=68277 The Tribunal reversed the decision of the CIT(A) regarding the rejection of books of accounts under s. 145(3), allowing the assessee's claim for higher gross profit rates based on product purity and additional costs. The Tribunal directed the AO to allow the full deduction claimed under section 80-IC(2)(a)(iii) and included the excise duty refund in the deduction computation. Additionally, the Tribunal deleted the addition made under section 69C due to lack of evidence and upheld the disallowance of interest on personal loan. The Tribunal instructed the AO to provide a reasoned order on charging interest under sections 234B, 234D, and 244A(3). en-us Fri, 28 Sep 2007 00:00:00 +0530 Tue, 07 Aug 2012 18:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68277 The Tribunal reversed the decision of the CIT(A) regarding the rejection of books of accounts under s. 145(3), allowing the assessee's claim for higher gross profit rates based on product purity and additional costs. The Tribunal directed the AO to allow the full deduction claimed under section 80-IC(2)(a)(iii) and included the excise duty refund in the deduction computation. Additionally, the Tribunal deleted the addition made under section 69C due to lack of evidence and upheld the disallowance of interest on personal loan. The Tribunal instructed the AO to provide a reasoned order on charging interest under sections 234B, 234D, and 244A(3). Case-Laws Income Tax Fri, 28 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68277