https://www.taxtmi.com/caselaws?id=215435 The Tribunal upheld the rejection of the books of account under Section 145(3) and the addition to the value of closing stock and work-in-progress. However, it deleted the addition made on account of the change in the method of accounting from hybrid to mercantile, finding the change bona fide and in compliance with statutory requirements. The Tribunal also confirmed the disallowance of the depreciation claim due to the lack of verifiable records. The appeal of the assessee was allowed in part. en-us Tue, 19 Jun 2012 00:00:00 +0530 Fri, 03 Aug 2012 12:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215435 The Tribunal upheld the rejection of the books of account under Section 145(3) and the addition to the value of closing stock and work-in-progress. However, it deleted the addition made on account of the change in the method of accounting from hybrid to mercantile, finding the change bona fide and in compliance with statutory requirements. The Tribunal also confirmed the disallowance of the depreciation claim due to the lack of verifiable records. The appeal of the assessee was allowed in part. Case-Laws Income Tax Tue, 19 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215435