https://www.taxtmi.com/caselaws?id=255419 The Tribunal upheld the rejection of the books of accounts under Section 145(3) due to discrepancies but adjusted the Gross Profit (G.P.) rate to 3.53%, aligning with a comparable case. The initial 4.90% rate by the Assessing Officer (AO) and the 4% rate by the Commissioner of Income Tax (Appeals) were both modified. The Tribunal's decision partially allowed appeals from both the assessee and the revenue, settling on the 3.53% G.P. rate. en-us Mon, 22 Sep 2014 00:00:00 +0530 Fri, 16 Jan 2015 10:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255419 The Tribunal upheld the rejection of the books of accounts under Section 145(3) due to discrepancies but adjusted the Gross Profit (G.P.) rate to 3.53%, aligning with a comparable case. The initial 4.90% rate by the Assessing Officer (AO) and the 4% rate by the Commissioner of Income Tax (Appeals) were both modified. The Tribunal's decision partially allowed appeals from both the assessee and the revenue, settling on the 3.53% G.P. rate. Case-Laws Income Tax Mon, 22 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255419