https://www.taxtmi.com/caselaws?id=237333 The dominant issue was whether rejection of books of account under s.145(3) IT Act and consequential estimated addition were justified merely on low sales/profit and non-responses to s.133(6) notices. The HC held that duly audited books, with no specific defects detected, could not be discarded; low profit alone is not a statutory ground for invoking s.145(3). The assessee had produced verifiable sales evidence (statutory forms, challans, mandi tax vouchers, transport bilties), and could not be penalized for third parties' failure to respond to notices. Accordingly, rejection of books and the estimated addition were set aside and the matter was decided against the Revenue. en-us Wed, 04 Sep 2013 00:00:00 +0530 Tue, 30 Dec 2025 15:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237333 The dominant issue was whether rejection of books of account under s.145(3) IT Act and consequential estimated addition were justified merely on low sales/profit and non-responses to s.133(6) notices. The HC held that duly audited books, with no specific defects detected, could not be discarded; low profit alone is not a statutory ground for invoking s.145(3). The assessee had produced verifiable sales evidence (statutory forms, challans, mandi tax vouchers, transport bilties), and could not be penalized for third parties' failure to respond to notices. Accordingly, rejection of books and the estimated addition were set aside and the matter was decided against the Revenue. Case-Laws Income Tax Wed, 04 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237333