https://www.taxtmi.com/caselaws?id=450739 ITAT Delhi held that AO cannot accept entire sales while disallowing complete purchases without rejecting books of accounts under section 145(3) of Income Tax Act, 1961. The tribunal found it illogical to accept sales receipts but deny all purchases, noting sales cannot occur without purchases. Since books were not formally rejected and no gross profit estimation was made, the addition was deleted. Assessee's appeal was allowed. en-us Mon, 04 Mar 2024 00:00:00 +0530 Tue, 12 Mar 2024 08:55:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450739 ITAT Delhi held that AO cannot accept entire sales while disallowing complete purchases without rejecting books of accounts under section 145(3) of Income Tax Act, 1961. The tribunal found it illogical to accept sales receipts but deny all purchases, noting sales cannot occur without purchases. Since books were not formally rejected and no gross profit estimation was made, the addition was deleted. Assessee's appeal was allowed. Case-Laws Income Tax Mon, 04 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450739