https://www.taxtmi.com/caselaws?id=237466 The High Court upheld the Tribunal's decision in an Income Tax Appeal, finding no errors in rejecting the accounts under Section 145(3) of the Income Tax Act. The Court deemed the Assessing Officer's reasons unsatisfactory and unjustified, emphasizing the importance of consistent accounting practices and acceptable methods in computing business income. The judgment highlighted the significance of considering variations in net profit and assessing gross profit trends, ultimately dismissing the appeal. en-us Tue, 24 Sep 2013 00:00:00 +0530 Sat, 28 Sep 2013 08:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237466 The High Court upheld the Tribunal's decision in an Income Tax Appeal, finding no errors in rejecting the accounts under Section 145(3) of the Income Tax Act. The Court deemed the Assessing Officer's reasons unsatisfactory and unjustified, emphasizing the importance of consistent accounting practices and acceptable methods in computing business income. The judgment highlighted the significance of considering variations in net profit and assessing gross profit trends, ultimately dismissing the appeal. Case-Laws Income Tax Tue, 24 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237466