https://www.taxtmi.com/caselaws?id=126631 The Income Tax Appellate Tribunal (ITAT) upheld the Assessing Officer's decision to reject the books of account and invoke section 145(2) of the Income-tax Act due to deficiencies and lack of essential details. Additionally, the ITAT reinstated the 5% flat rate addition on disclosed sales, amounting to Rs. 38,75,050, as the Assessing Officer's assessment was deemed reasonable and justified. The ITAT overturned the decision of the Commissioner of Income Tax (Appeals) and restored the Assessing Officer's addition. en-us Thu, 15 Oct 1998 00:00:00 +0530 Tue, 27 Nov 2012 20:52:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126631 The Income Tax Appellate Tribunal (ITAT) upheld the Assessing Officer's decision to reject the books of account and invoke section 145(2) of the Income-tax Act due to deficiencies and lack of essential details. Additionally, the ITAT reinstated the 5% flat rate addition on disclosed sales, amounting to Rs. 38,75,050, as the Assessing Officer's assessment was deemed reasonable and justified. The ITAT overturned the decision of the Commissioner of Income Tax (Appeals) and restored the Assessing Officer's addition. Case-Laws Income Tax Thu, 15 Oct 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126631