https://www.taxtmi.com/caselaws?id=410926 The Tribunal set aside the Assessing Officer's decision to reject the Assessee's audited books of accounts under section 145(3) due to lack of specific irregularity or basis, as the books were duly audited without adverse comments. The Tribunal also deemed the estimation of net profit without basis unjustified, directing the deletion of the entire addition to income. The Tribunal concluded that the addition in total income lacked a valid basis or investigation, leading to the allowance of the Assessee's appeal and a ruling in favor of the Assessee. en-us Mon, 09 Aug 2021 00:00:00 +0530 Fri, 13 Aug 2021 08:51:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410926 The Tribunal set aside the Assessing Officer's decision to reject the Assessee's audited books of accounts under section 145(3) due to lack of specific irregularity or basis, as the books were duly audited without adverse comments. The Tribunal also deemed the estimation of net profit without basis unjustified, directing the deletion of the entire addition to income. The Tribunal concluded that the addition in total income lacked a valid basis or investigation, leading to the allowance of the Assessee's appeal and a ruling in favor of the Assessee. Case-Laws Income Tax Mon, 09 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410926