https://www.taxtmi.com/caselaws?id=210126 The Tribunal upheld the rejection of books of account under section 145(3) due to discrepancies and lack of documentation. The income was to be computed applying section 44AE guidelines for trucks owned by the assessee and a 3.5% rate for income from other trucks. The AO was directed to verify the number of trucks owned, allowing deductions for interest and partner salaries but not for depreciation, deemed allowed under section 44AE. The appeal was allowed for statistical purposes. en-us Wed, 27 Apr 2011 00:00:00 +0530 Wed, 28 Nov 2012 14:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210126 The Tribunal upheld the rejection of books of account under section 145(3) due to discrepancies and lack of documentation. The income was to be computed applying section 44AE guidelines for trucks owned by the assessee and a 3.5% rate for income from other trucks. The AO was directed to verify the number of trucks owned, allowing deductions for interest and partner salaries but not for depreciation, deemed allowed under section 44AE. The appeal was allowed for statistical purposes. Case-Laws Income Tax Wed, 27 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210126