https://www.taxtmi.com/caselaws?id=256772 The High Court allowed the appeal, ruling in favor of the appellant due to the Assessing Officer's failure to prove understatement or concealment of income before resorting to external valuations under Section 69B. The court emphasized the necessity of rejecting books of account with proper justification before turning to alternative valuation methods. en-us Tue, 10 Feb 2015 00:00:00 +0530 Tue, 05 May 2015 14:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256772 The High Court allowed the appeal, ruling in favor of the appellant due to the Assessing Officer's failure to prove understatement or concealment of income before resorting to external valuations under Section 69B. The court emphasized the necessity of rejecting books of account with proper justification before turning to alternative valuation methods. Case-Laws Income Tax Tue, 10 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256772