https://www.taxtmi.com/caselaws?id=192667 The ITAT ruled in favor of the assessee, overturning the rejection of books of account and the consequent GP addition while allowing the business loss incurred in Tushar Guest House. The judgment emphasized the importance of considering market conditions, global competition, and consistency in treatment across assessment years while assessing financial aspects of the business. en-us Fri, 18 Dec 2015 00:00:00 +0530 Sat, 10 Jun 2017 10:00:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192667 The ITAT ruled in favor of the assessee, overturning the rejection of books of account and the consequent GP addition while allowing the business loss incurred in Tushar Guest House. The judgment emphasized the importance of considering market conditions, global competition, and consistency in treatment across assessment years while assessing financial aspects of the business. Case-Laws Income Tax Fri, 18 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192667