https://www.taxtmi.com/caselaws?id=272900 The Income Tax Appellate Tribunal upheld the respondent's appeal, ruling that the Assessing Officer's rejection of the accounts based on the absence of proper sales vouchers was unjustified. The Tribunal found the net profit claimed was reasonable given prevailing trade rates and common practices in the liquor trade. As no defects were identified in the accounts, invoking Section 145(3) of the Income Tax Act was deemed unwarranted. The Tribunal's decision was considered reasonable, and the appeal was dismissed as no substantial question of law arose. en-us Fri, 20 Jun 2014 00:00:00 +0530 Thu, 24 May 2018 08:32:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272900 The Income Tax Appellate Tribunal upheld the respondent's appeal, ruling that the Assessing Officer's rejection of the accounts based on the absence of proper sales vouchers was unjustified. The Tribunal found the net profit claimed was reasonable given prevailing trade rates and common practices in the liquor trade. As no defects were identified in the accounts, invoking Section 145(3) of the Income Tax Act was deemed unwarranted. The Tribunal's decision was considered reasonable, and the appeal was dismissed as no substantial question of law arose. Case-Laws Income Tax Fri, 20 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272900