https://www.taxtmi.com/caselaws?id=344641 The High Court partially allowed the appeals regarding the rejection of Books of Accounts under section 145(3) of the Income Tax Act, 1961. The case involved discrepancies in transactions related to material purchases, leading to doubts about their genuineness. The Court emphasized the need for a more detailed investigation into the transactions and entries in the books of account, directing the matter to be remanded back to the Assessing Officer for a fresh decision. This decision aimed to ensure a comprehensive review of the transactions and address the identified discrepancies, highlighting the importance of a fair assessment process. en-us Tue, 18 Apr 2017 00:00:00 +0530 Thu, 22 Jun 2017 09:23:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344641 The High Court partially allowed the appeals regarding the rejection of Books of Accounts under section 145(3) of the Income Tax Act, 1961. The case involved discrepancies in transactions related to material purchases, leading to doubts about their genuineness. The Court emphasized the need for a more detailed investigation into the transactions and entries in the books of account, directing the matter to be remanded back to the Assessing Officer for a fresh decision. This decision aimed to ensure a comprehensive review of the transactions and address the identified discrepancies, highlighting the importance of a fair assessment process. Case-Laws Income Tax Tue, 18 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344641