https://www.taxtmi.com/caselaws?id=432287 The Tribunal partly allowed the Assessee's appeal, directing the AO to apply a GP rate of 2.5% on sales. The rejection of the books of account was upheld due to the Assessee's failure to maintain a stock register and provide satisfactory explanations for the discrepancies. The quantification of income was adjusted based on the past GP rate declared by the Assessee. The appeal was disposed of with the order pronounced in the open court on 28.12.2022. en-us Wed, 28 Dec 2022 00:00:00 +0530 Sat, 31 Dec 2022 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432287 The Tribunal partly allowed the Assessee's appeal, directing the AO to apply a GP rate of 2.5% on sales. The rejection of the books of account was upheld due to the Assessee's failure to maintain a stock register and provide satisfactory explanations for the discrepancies. The quantification of income was adjusted based on the past GP rate declared by the Assessee. The appeal was disposed of with the order pronounced in the open court on 28.12.2022. Case-Laws Income Tax Wed, 28 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432287