https://www.taxtmi.com/caselaws?id=357641 The Tribunal allowed the Revenue's appeal for statistical purposes, setting aside the penalty under section 271(1)(c) pending further proceedings based on the quantum appeal decision. The Tribunal upheld the CIT (A)'s decision to reject books of accounts under section 145(3) and the unverifiability of purchases, restricting the addition to the average GP rate based on past history. The adjournment application was rejected, leading to an ex parte hearing where the assessee did not appear. The Tribunal's order dated 12.11.2015 was initially recalled on 11th January, 2017, with the final decision made on 26th December, 2017. en-us Thu, 22 Mar 2018 00:00:00 +0530 Tue, 27 Mar 2018 09:21:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357641 The Tribunal allowed the Revenue's appeal for statistical purposes, setting aside the penalty under section 271(1)(c) pending further proceedings based on the quantum appeal decision. The Tribunal upheld the CIT (A)'s decision to reject books of accounts under section 145(3) and the unverifiability of purchases, restricting the addition to the average GP rate based on past history. The adjournment application was rejected, leading to an ex parte hearing where the assessee did not appear. The Tribunal's order dated 12.11.2015 was initially recalled on 11th January, 2017, with the final decision made on 26th December, 2017. Case-Laws Income Tax Thu, 22 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357641