https://www.taxtmi.com/caselaws?id=217988 The Tribunal upheld the Assessing Officer's decision to reject the books of account under Section 145(3) of the Income-tax Act, 1961, due to unreliable and incomplete records. Additionally, the Tribunal partially allowed the Revenue's appeals on the issues of low yield of oil in cotton seed and low gross profit rate of cattle feed, making adjustments to the additions. The Tribunal also upheld the disallowance of proportionate interest paid to the bank related to interest-free advances. Overall, the Tribunal dismissed the assessee's appeal entirely and partly allowed the Revenue's appeal with specific adjustments. en-us Thu, 17 May 2012 00:00:00 +0530 Sat, 25 May 2013 10:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217988 The Tribunal upheld the Assessing Officer's decision to reject the books of account under Section 145(3) of the Income-tax Act, 1961, due to unreliable and incomplete records. Additionally, the Tribunal partially allowed the Revenue's appeals on the issues of low yield of oil in cotton seed and low gross profit rate of cattle feed, making adjustments to the additions. The Tribunal also upheld the disallowance of proportionate interest paid to the bank related to interest-free advances. Overall, the Tribunal dismissed the assessee's appeal entirely and partly allowed the Revenue's appeal with specific adjustments. Case-Laws Income Tax Thu, 17 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217988