https://www.taxtmi.com/caselaws?id=395153 The Tribunal upheld the rejection of the books of accounts for both assessment years due to discrepancies and deficiencies. However, it determined that income should be estimated at the gross profit level rather than the net profit level. The Tribunal found the estimation method used by the Ld CIT(A) flawed and remanded the matters back to the AO for fresh examination. Both appeals were allowed for statistical purposes, and the cases were sent back to the AO for further review in accordance with the law. en-us Tue, 28 Apr 2020 00:00:00 +0530 Fri, 08 May 2020 11:06:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395153 The Tribunal upheld the rejection of the books of accounts for both assessment years due to discrepancies and deficiencies. However, it determined that income should be estimated at the gross profit level rather than the net profit level. The Tribunal found the estimation method used by the Ld CIT(A) flawed and remanded the matters back to the AO for fresh examination. Both appeals were allowed for statistical purposes, and the cases were sent back to the AO for further review in accordance with the law. Case-Laws Income Tax Tue, 28 Apr 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395153