https://www.taxtmi.com/caselaws?id=298772 The High Court set aside the Tribunal and CIT(A)'s orders upholding the rejection of books of account under s. 145(1) of the IT Act, 1961. The Court directed the CIT(A) to reassess the matter considering the consistent wastage percentage shown by the assessee over the years, accepted by the Department, and comparing it with figures from other industries. The decision favored the assessee, leading to a remittal for fresh consideration by the CIT(A) with both parties required to appear on a specified date. en-us Mon, 19 May 2008 00:00:00 +0530 Fri, 19 Nov 2021 14:19:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298772 The High Court set aside the Tribunal and CIT(A)'s orders upholding the rejection of books of account under s. 145(1) of the IT Act, 1961. The Court directed the CIT(A) to reassess the matter considering the consistent wastage percentage shown by the assessee over the years, accepted by the Department, and comparing it with figures from other industries. The decision favored the assessee, leading to a remittal for fresh consideration by the CIT(A) with both parties required to appear on a specified date. Case-Laws Income Tax Mon, 19 May 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298772