https://www.taxtmi.com/caselaws?id=356522 The High Court upheld the Tribunal's decision, ruling that the rejection of books of accounts must adhere to specific conditions outlined in the Income Tax Act and cannot be solely based on selling goods at prices lower than the purchase price. The Court emphasized that traders are not required to maximize profits and dismissed the Revenue's appeal as it did not raise any substantial question of law. The appeal was ultimately dismissed, with no order made regarding costs. en-us Tue, 20 Feb 2018 00:00:00 +0530 Wed, 07 Mar 2018 08:03:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356522 The High Court upheld the Tribunal's decision, ruling that the rejection of books of accounts must adhere to specific conditions outlined in the Income Tax Act and cannot be solely based on selling goods at prices lower than the purchase price. The Court emphasized that traders are not required to maximize profits and dismissed the Revenue's appeal as it did not raise any substantial question of law. The appeal was ultimately dismissed, with no order made regarding costs. Case-Laws Income Tax Tue, 20 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356522