https://www.taxtmi.com/caselaws?id=410851 The ITAT Delhi upheld the decisions of the ld. CIT (A) and dismissed the Revenue's appeal in a case involving the rejection of books of account under section 145 of the Income-tax Act, 1961. The Tribunal found the AO's actions unjustified and lacking basis, particularly in the recalculation of net profit and disallowance of expenses claimed under the head 'salary.' Additionally, the Tribunal dismissed concerns raised under section 40A(2)(b) regarding purchases from related parties, citing inconsistencies and lack of substantiated facts in the AO's conclusions. en-us Mon, 09 Aug 2021 00:00:00 +0530 Wed, 11 Aug 2021 09:21:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410851 The ITAT Delhi upheld the decisions of the ld. CIT (A) and dismissed the Revenue's appeal in a case involving the rejection of books of account under section 145 of the Income-tax Act, 1961. The Tribunal found the AO's actions unjustified and lacking basis, particularly in the recalculation of net profit and disallowance of expenses claimed under the head 'salary.' Additionally, the Tribunal dismissed concerns raised under section 40A(2)(b) regarding purchases from related parties, citing inconsistencies and lack of substantiated facts in the AO's conclusions. Case-Laws Income Tax Mon, 09 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410851