https://www.taxtmi.com/caselaws?id=371084 The ITAT upheld the rejection of books of account due to specific defects under Section 145(3) of the Income Tax Act, 1961. Additionally, the ITAT deleted the trading addition made by the Assessing Officer, emphasizing the need for fair and fact-based profit estimation, highlighting that ad hoc additions without proper estimation are impermissible. The appeal was partly allowed based on these findings. en-us Tue, 20 Nov 2018 00:00:00 +0530 Wed, 28 Nov 2018 08:39:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371084 The ITAT upheld the rejection of books of account due to specific defects under Section 145(3) of the Income Tax Act, 1961. Additionally, the ITAT deleted the trading addition made by the Assessing Officer, emphasizing the need for fair and fact-based profit estimation, highlighting that ad hoc additions without proper estimation are impermissible. The appeal was partly allowed based on these findings. Case-Laws Income Tax Tue, 20 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371084