https://www.taxtmi.com/caselaws?id=340526 The tribunal upheld the rejection of the books of accounts under Section 145(3) and confirmed the addition of Rs. 10 lacs as estimated by the CIT(A). However, the tribunal deleted the adhoc disallowance of 10% of the depreciation on vehicles, agreeing with the assessee's argument that depreciation is a statutory allowance and should not be restricted based on personal use. en-us Mon, 30 Jan 2017 00:00:00 +0530 Thu, 23 Mar 2017 09:08:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340526 The tribunal upheld the rejection of the books of accounts under Section 145(3) and confirmed the addition of Rs. 10 lacs as estimated by the CIT(A). However, the tribunal deleted the adhoc disallowance of 10% of the depreciation on vehicles, agreeing with the assessee's argument that depreciation is a statutory allowance and should not be restricted based on personal use. Case-Laws Income Tax Mon, 30 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340526