https://www.taxtmi.com/caselaws?id=338081 The court upheld the appellant's position in challenging the rejection of Books of Account under Section 145 of the Income Tax Act, emphasizing the consistency and acceptability of the method used. It also supported the allowance of business expenditure and depreciation on equipment, plant, and machinery, dismissing the Revenue's objections due to lack of factual support. The court found the appellant's evidence credible regarding the claimed loss from the hotel business and refused to entertain the issue as it did not raise substantial questions of law. The appeal was ultimately dismissed without costs. en-us Tue, 10 Jan 2017 00:00:00 +0530 Tue, 24 Jan 2017 08:36:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338081 The court upheld the appellant's position in challenging the rejection of Books of Account under Section 145 of the Income Tax Act, emphasizing the consistency and acceptability of the method used. It also supported the allowance of business expenditure and depreciation on equipment, plant, and machinery, dismissing the Revenue's objections due to lack of factual support. The court found the appellant's evidence credible regarding the claimed loss from the hotel business and refused to entertain the issue as it did not raise substantial questions of law. The appeal was ultimately dismissed without costs. Case-Laws Income Tax Tue, 10 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338081