https://www.taxtmi.com/caselaws?id=417914 The appeal was allowed in favor of the appellant. The CIT(A) directed the Assessing Officer to accept the book results and the income returned, rejecting the estimation of income at 15% on gross sales after rejecting the books of accounts. Additionally, the CIT(A) instructed the AO to delete the addition made on account of estimating business income at a uniform rate of 15%, as it lacked justification and was not based on tangible evidence. The Revenue's appeal was treated as allowed for statistical purposes, with the grievance restored back to the Assessing Officer for further proceedings. en-us Thu, 27 Jan 2022 00:00:00 +0530 Fri, 04 Feb 2022 07:01:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417914 The appeal was allowed in favor of the appellant. The CIT(A) directed the Assessing Officer to accept the book results and the income returned, rejecting the estimation of income at 15% on gross sales after rejecting the books of accounts. Additionally, the CIT(A) instructed the AO to delete the addition made on account of estimating business income at a uniform rate of 15%, as it lacked justification and was not based on tangible evidence. The Revenue's appeal was treated as allowed for statistical purposes, with the grievance restored back to the Assessing Officer for further proceedings. Case-Laws Income Tax Thu, 27 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417914