https://www.taxtmi.com/caselaws?id=342451 The Appellant's books of accounts were rejected under Section 145(3) of the Income Tax Act for Assessment Years 2006-07 and 2007-08 due to lack of evidence supporting recorded milk sales quantities. The rejection was upheld by the CIT(A) and the Tribunal, emphasizing the absence of necessary registers. Additionally, gross profit additions were approved based on discrepancies in milk sales and production, with estimates affirmed by the authorities. The Appellant's arguments against the best judgment assessment were refuted, leading to the dismissal of both appeals without costs. en-us Tue, 13 Dec 2016 00:00:00 +0530 Thu, 04 May 2017 10:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342451 The Appellant's books of accounts were rejected under Section 145(3) of the Income Tax Act for Assessment Years 2006-07 and 2007-08 due to lack of evidence supporting recorded milk sales quantities. The rejection was upheld by the CIT(A) and the Tribunal, emphasizing the absence of necessary registers. Additionally, gross profit additions were approved based on discrepancies in milk sales and production, with estimates affirmed by the authorities. The Appellant's arguments against the best judgment assessment were refuted, leading to the dismissal of both appeals without costs. Case-Laws Income Tax Tue, 13 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342451