https://www.taxtmi.com/caselaws?id=178261 The Tribunal partly allowed both appeals of the assessees. It found that no addition on account of low gross profit was justified, leading to the rejection of the order for special audit u/s 142(2A). The Tribunal also determined that the rejection of books of accounts u/s 145(3) was not justified. Additionally, the disallowance of deduction u/s 80IB was addressed, directing the A.O. not to reduce vatav kasar income for calculating the deduction. The disallowance of depreciation was upheld based on relevant legal precedents. The Tribunal's order was pronounced on 12th August 2011. en-us Fri, 12 Aug 2011 00:00:00 +0530 Mon, 01 Feb 2016 12:21:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178261 The Tribunal partly allowed both appeals of the assessees. It found that no addition on account of low gross profit was justified, leading to the rejection of the order for special audit u/s 142(2A). The Tribunal also determined that the rejection of books of accounts u/s 145(3) was not justified. Additionally, the disallowance of deduction u/s 80IB was addressed, directing the A.O. not to reduce vatav kasar income for calculating the deduction. The disallowance of depreciation was upheld based on relevant legal precedents. The Tribunal's order was pronounced on 12th August 2011. Case-Laws Income Tax Fri, 12 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178261