https://www.taxtmi.com/caselaws?id=339384 The Tribunal partially allowed the Revenue's appeal, directing the Assessing Officer to assess the income at a profit rate of 10% due to the rejection of books of accounts by the assessee. The judgment stressed the significance of proving transactions and the effect on profit estimation in cases of disputed purchases, underlining the importance of precise financial records and adherence to tax laws. en-us Tue, 17 Jan 2017 00:00:00 +0530 Sat, 25 Feb 2017 14:38:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339384 The Tribunal partially allowed the Revenue's appeal, directing the Assessing Officer to assess the income at a profit rate of 10% due to the rejection of books of accounts by the assessee. The judgment stressed the significance of proving transactions and the effect on profit estimation in cases of disputed purchases, underlining the importance of precise financial records and adherence to tax laws. Case-Laws Income Tax Tue, 17 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339384