https://www.taxtmi.com/caselaws?id=405601 ITAT upheld the rejection of the assessee's books and sustained a GP-based estimation. Records showed failure to maintain quantitative details, stock registers and yield/shortage records, rendering accounts unreliable. The ld. CIT(A) applied a five-year average gross profit rate of 12.86% instead of the AO's 17.02% and made additions accordingly. The ITAT found the AO's defects unremedied by the assessee, rejected reliance on cited case law, affirmed the CIT(A)'s approach and dismissed the assessee's appeal. en-us Fri, 12 Mar 2021 00:00:00 +0530 Fri, 22 Aug 2025 21:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405601 ITAT upheld the rejection of the assessee's books and sustained a GP-based estimation. Records showed failure to maintain quantitative details, stock registers and yield/shortage records, rendering accounts unreliable. The ld. CIT(A) applied a five-year average gross profit rate of 12.86% instead of the AO's 17.02% and made additions accordingly. The ITAT found the AO's defects unremedied by the assessee, rejected reliance on cited case law, affirmed the CIT(A)'s approach and dismissed the assessee's appeal. Case-Laws Income Tax Fri, 12 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405601