https://www.taxtmi.com/caselaws?id=392599 The ITAT set aside lower authorities' orders and remanded the case to the AO for fresh examination. Procedural lapses were deemed insufficient to justify book rejection for a banking institution. Comparison with a non-banking entity was found inappropriate. The AO was directed to reassess, considering the nature of the business and rectification of audit objections. Appeals of both parties were allowed for statistical purposes. en-us Fri, 21 Feb 2020 00:00:00 +0530 Mon, 24 Feb 2020 10:01:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392599 The ITAT set aside lower authorities' orders and remanded the case to the AO for fresh examination. Procedural lapses were deemed insufficient to justify book rejection for a banking institution. Comparison with a non-banking entity was found inappropriate. The AO was directed to reassess, considering the nature of the business and rectification of audit objections. Appeals of both parties were allowed for statistical purposes. Case-Laws Income Tax Fri, 21 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392599