https://www.taxtmi.com/caselaws?id=264889 The appellant's appeal against the rejection of books under section 145(3) of the Income Tax Act, 1961 was dismissed due to lack of necessary records. The Assessing Officer rejected the book result citing missing essential details. The appellant, a civil contractor, failed to maintain required records, leading to the rejection. The CIT(A) upheld the addition of a net profit rate @ 8% considering inadequate record-keeping. The Tribunal affirmed the CIT(A)'s decision, emphasizing the importance of proper record-keeping and consistency in applying net profit rates for civil contractors. en-us Fri, 26 Sep 2014 00:00:00 +0530 Sun, 04 Oct 2015 12:36:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264889 The appellant's appeal against the rejection of books under section 145(3) of the Income Tax Act, 1961 was dismissed due to lack of necessary records. The Assessing Officer rejected the book result citing missing essential details. The appellant, a civil contractor, failed to maintain required records, leading to the rejection. The CIT(A) upheld the addition of a net profit rate @ 8% considering inadequate record-keeping. The Tribunal affirmed the CIT(A)'s decision, emphasizing the importance of proper record-keeping and consistency in applying net profit rates for civil contractors. Case-Laws Income Tax Fri, 26 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264889