https://www.taxtmi.com/caselaws?id=433265 The Tribunal allowed the Assessee's appeal, highlighting the lack of valid reasons for rejecting audited books and making estimations solely based on minor profit variations. The Tribunal found the Assessing Officer unjustified in rejecting audited books solely based on photocopies of bills, noting the marginal net profit difference and higher gross profit, indicating no significant discrepancy. The Tribunal set aside the CIT(A)'s decision and instructed the Assessing Officer to accept the Assessee's position, emphasizing that Section 145(3) cannot be invoked without proving incompleteness in records. en-us Mon, 23 Jan 2023 00:00:00 +0530 Wed, 25 Jan 2023 08:30:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433265 The Tribunal allowed the Assessee's appeal, highlighting the lack of valid reasons for rejecting audited books and making estimations solely based on minor profit variations. The Tribunal found the Assessing Officer unjustified in rejecting audited books solely based on photocopies of bills, noting the marginal net profit difference and higher gross profit, indicating no significant discrepancy. The Tribunal set aside the CIT(A)'s decision and instructed the Assessing Officer to accept the Assessee's position, emphasizing that Section 145(3) cannot be invoked without proving incompleteness in records. Case-Laws Income Tax Mon, 23 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433265