https://www.taxtmi.com/caselaws?id=309455 The Tribunal upheld the rejection of the assessee's books of account under Section 145(3) of the IT Act, 1961, due to significant defects. However, it directed the deletion of trading additions for both assessment years 2009-10 and 2010-11, emphasizing the improvement in the assessee's NP rate and lack of comparable cases provided by the authorities. Additionally, the Tribunal deleted the alleged suppressed investment in land and undisclosed investment under Section 69B for both years, citing procedural unfairness and lack of concrete evidence. The Tribunal stressed the importance of procedural fairness, concrete evidence, and considering past history in making additions. en-us Mon, 31 Mar 2014 00:00:00 +0530 Mon, 04 Sep 2023 21:32:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309455 The Tribunal upheld the rejection of the assessee's books of account under Section 145(3) of the IT Act, 1961, due to significant defects. However, it directed the deletion of trading additions for both assessment years 2009-10 and 2010-11, emphasizing the improvement in the assessee's NP rate and lack of comparable cases provided by the authorities. Additionally, the Tribunal deleted the alleged suppressed investment in land and undisclosed investment under Section 69B for both years, citing procedural unfairness and lack of concrete evidence. The Tribunal stressed the importance of procedural fairness, concrete evidence, and considering past history in making additions. Case-Laws Income Tax Mon, 31 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309455