https://www.taxtmi.com/caselaws?id=216347 The Tribunal upheld the rejection of books of account and ruled in favor of the assessee, dismissing the Revenue's appeal and allowing the assessee's cross-objection. It was determined that no trading addition was necessary after considering the comparison of gross profit rates between periods, particularly noting that the gross profit rate disclosed by the assessee for the first period was better than the average of the preceding three years. en-us Fri, 20 Jul 2012 00:00:00 +0530 Thu, 06 Sep 2012 17:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216347 The Tribunal upheld the rejection of books of account and ruled in favor of the assessee, dismissing the Revenue's appeal and allowing the assessee's cross-objection. It was determined that no trading addition was necessary after considering the comparison of gross profit rates between periods, particularly noting that the gross profit rate disclosed by the assessee for the first period was better than the average of the preceding three years. Case-Laws Income Tax Fri, 20 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216347