https://www.taxtmi.com/caselaws?id=255399 The Tribunal partially allowed the assessee's appeal, adjusting the gross profit rate to 3.53% instead of the 4.90% applied by the Assessing Officer. The rejection of the books of account under section 145(3) was upheld due to inadequate inventory and recording practices. The issue of adequate opportunity of being heard was dismissed for lack of specific arguments, and the charging of interest under sections 234B and 234D was implicitly affirmed. en-us Fri, 09 Jan 2015 00:00:00 +0530 Fri, 16 Jan 2015 08:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255399 The Tribunal partially allowed the assessee's appeal, adjusting the gross profit rate to 3.53% instead of the 4.90% applied by the Assessing Officer. The rejection of the books of account under section 145(3) was upheld due to inadequate inventory and recording practices. The issue of adequate opportunity of being heard was dismissed for lack of specific arguments, and the charging of interest under sections 234B and 234D was implicitly affirmed. Case-Laws Income Tax Fri, 09 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255399