https://www.taxtmi.com/caselaws?id=183710 The High Court dismissed the appeal challenging the deletion of an addition based on an adhoc Gross Profit rate. The Court upheld the Tribunal's decision, emphasizing that the rejection of books of accounts is necessary before estimating profits. Since the rejection was not challenged, the addition could not be sustained. The appeal was dismissed without costs. en-us Tue, 02 Mar 2010 00:00:00 +0530 Sat, 18 Jun 2016 15:51:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183710 The High Court dismissed the appeal challenging the deletion of an addition based on an adhoc Gross Profit rate. The Court upheld the Tribunal's decision, emphasizing that the rejection of books of accounts is necessary before estimating profits. Since the rejection was not challenged, the addition could not be sustained. The appeal was dismissed without costs. Case-Laws Income Tax Tue, 02 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183710