https://www.taxtmi.com/caselaws?id=273635 The Tribunal dismissed all twelve appeals, upholding the CIT(A)'s orders. The Tribunal found no merit in the Revenue's grounds for reviving Section 40A(3) disallowances/additions and rejected the assessee's plea for a lower net profit rate of 1.5%. The CIT(A)'s actions were deemed appropriate and within jurisdiction, given the circumstances and evidence of fabricated books. The judgment emphasized the principle that defective books could not be relied upon for disallowances/additions, aligning with the jurisdictional high court's precedent. en-us Fri, 10 Feb 2017 00:00:00 +0530 Fri, 06 Jul 2018 05:34:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273635 The Tribunal dismissed all twelve appeals, upholding the CIT(A)'s orders. The Tribunal found no merit in the Revenue's grounds for reviving Section 40A(3) disallowances/additions and rejected the assessee's plea for a lower net profit rate of 1.5%. The CIT(A)'s actions were deemed appropriate and within jurisdiction, given the circumstances and evidence of fabricated books. The judgment emphasized the principle that defective books could not be relied upon for disallowances/additions, aligning with the jurisdictional high court's precedent. Case-Laws Income Tax Fri, 10 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273635