https://www.taxtmi.com/caselaws?id=441976 The Tribunal upheld the rejection of the Assessee's books of account under section 145(3) due to unverified purchases and creditors. However, the Tribunal adjusted the Gross Profit ratio to 2.34% based on comparable cases and the Assessee's historical performance, partially allowing the Assessee's appeal. The Assessing Officer was directed to recalculate the Gross Profit rate accordingly. en-us Wed, 29 Mar 2023 00:00:00 +0530 Tue, 22 Aug 2023 09:11:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441976 The Tribunal upheld the rejection of the Assessee's books of account under section 145(3) due to unverified purchases and creditors. However, the Tribunal adjusted the Gross Profit ratio to 2.34% based on comparable cases and the Assessee's historical performance, partially allowing the Assessee's appeal. The Assessing Officer was directed to recalculate the Gross Profit rate accordingly. Case-Laws Income Tax Wed, 29 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441976