https://www.taxtmi.com/caselaws?id=238465 The Tribunal found the rejection of books under section 145(3) unwarranted in a case concerning trading addition in a contractorship business. The AO's failure to specify defects impacting income computation and the arbitrary application of the net profit rate led to the deletion of the entire addition. The Tribunal emphasized that all necessary records were maintained and verified by the auditor, dismissing the revenue's appeal and partially allowing the assessee's cross objection. en-us Wed, 25 Sep 2013 00:00:00 +0530 Wed, 23 Oct 2013 07:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238465 The Tribunal found the rejection of books under section 145(3) unwarranted in a case concerning trading addition in a contractorship business. The AO's failure to specify defects impacting income computation and the arbitrary application of the net profit rate led to the deletion of the entire addition. The Tribunal emphasized that all necessary records were maintained and verified by the auditor, dismissing the revenue's appeal and partially allowing the assessee's cross objection. Case-Laws Income Tax Wed, 25 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238465