https://www.taxtmi.com/caselaws?id=270450 The Appellate Tribunal upheld the Commissioner of Income Tax (Appeals)' decision to set aside the estimation of income at 1% of turnover and rejection of books of accounts by the Assessing Officer. The Tribunal found the Assessing Officer's reasons insufficient to justify the rejection and accepted the assessee's explanations, noting the books were maintained and audited. The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s order. en-us Fri, 16 Oct 2015 00:00:00 +0530 Thu, 07 Jan 2016 13:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270450 The Appellate Tribunal upheld the Commissioner of Income Tax (Appeals)' decision to set aside the estimation of income at 1% of turnover and rejection of books of accounts by the Assessing Officer. The Tribunal found the Assessing Officer's reasons insufficient to justify the rejection and accepted the assessee's explanations, noting the books were maintained and audited. The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s order. Case-Laws Income Tax Fri, 16 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270450