https://www.taxtmi.com/caselaws?id=296471 The appeal of the revenue was dismissed, and the appeal of the assessee was partly allowed. The rejection of books of accounts under Section 145(3) of the I.T. Act was upheld, citing precedents supporting such actions. The trading addition was adjusted based on a fair gross profit rate of 12.8% determined by considering various factors. Disallowance of expenses was partially upheld, with the disallowance of traveling expenses reduced to Rs. 50,000 from an excessive 10%. en-us Thu, 30 Jun 2011 00:00:00 +0530 Thu, 22 Jul 2021 12:29:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296471 The appeal of the revenue was dismissed, and the appeal of the assessee was partly allowed. The rejection of books of accounts under Section 145(3) of the I.T. Act was upheld, citing precedents supporting such actions. The trading addition was adjusted based on a fair gross profit rate of 12.8% determined by considering various factors. Disallowance of expenses was partially upheld, with the disallowance of traveling expenses reduced to Rs. 50,000 from an excessive 10%. Case-Laws Income Tax Thu, 30 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296471