https://www.taxtmi.com/caselaws?id=755676 ITAT Jaipur allowed the assessee's appeal against additions made by rejecting books of accounts under section 145(3). The tribunal held that conditions for invoking section 145(3) were not satisfied as no defects were found in the books. During survey under section 133A, the partner surrendered undisclosed income including excess stock and bogus expenses. The tribunal found that excess stock was properly accounted for in closing stock with supporting evidence from CA certificate. Regarding bogus expenses, the tribunal accepted that cash was available with the assessee for advances to job workers, allowing telescoping benefit despite no cash flow statement being provided. en-us Wed, 10 Jul 2024 00:00:00 +0530 Tue, 16 Jul 2024 15:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755676 ITAT Jaipur allowed the assessee's appeal against additions made by rejecting books of accounts under section 145(3). The tribunal held that conditions for invoking section 145(3) were not satisfied as no defects were found in the books. During survey under section 133A, the partner surrendered undisclosed income including excess stock and bogus expenses. The tribunal found that excess stock was properly accounted for in closing stock with supporting evidence from CA certificate. Regarding bogus expenses, the tribunal accepted that cash was available with the assessee for advances to job workers, allowing telescoping benefit despite no cash flow statement being provided. Case-Laws Income Tax Wed, 10 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755676