https://www.taxtmi.com/caselaws?id=327073 The Appellate Tribunal upheld the Commissioner of Income-tax (Appeals)'s decision, dismissing the Revenue's appeal. It found that the Assessing Officer's method of month-wise trading accounts was flawed, and the net profit estimation at 2.76% was deemed correct. The rejection of books of account under section 145(3) was deemed justified due to identified defects. The relief of Rs. 13.60 crores granted by the Commissioner of Income-tax (Appeals) was upheld, and the Departmental appeal was rejected. en-us Wed, 28 Oct 2015 00:00:00 +0530 Sun, 01 May 2016 20:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327073 The Appellate Tribunal upheld the Commissioner of Income-tax (Appeals)'s decision, dismissing the Revenue's appeal. It found that the Assessing Officer's method of month-wise trading accounts was flawed, and the net profit estimation at 2.76% was deemed correct. The rejection of books of account under section 145(3) was deemed justified due to identified defects. The relief of Rs. 13.60 crores granted by the Commissioner of Income-tax (Appeals) was upheld, and the Departmental appeal was rejected. Case-Laws Income Tax Wed, 28 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327073