https://www.taxtmi.com/caselaws?id=456945 ITAT Raipur ruled in favor of the assessee regarding rejection of books of accounts under Section 145(3). The AO rejected books citing non-production of vouchers and claiming bills/vouchers for administrative expenses lacked proper decorum and presentation standards. ITAT held that vague observations about presentation quality and insignificant mistakes cannot justify book rejection under Section 145(3). Relying on SC precedent in CIT v. Padamchand Ramgopal, the tribunal emphasized that minor defects are insufficient grounds for triggering rigorous provisions of Section 145(3) without identifying specific substantial defects in accounting records. en-us Thu, 09 Jun 2022 00:00:00 +0530 Wed, 28 Aug 2024 09:08:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456945 ITAT Raipur ruled in favor of the assessee regarding rejection of books of accounts under Section 145(3). The AO rejected books citing non-production of vouchers and claiming bills/vouchers for administrative expenses lacked proper decorum and presentation standards. ITAT held that vague observations about presentation quality and insignificant mistakes cannot justify book rejection under Section 145(3). Relying on SC precedent in CIT v. Padamchand Ramgopal, the tribunal emphasized that minor defects are insufficient grounds for triggering rigorous provisions of Section 145(3) without identifying specific substantial defects in accounting records. Case-Laws Income Tax Thu, 09 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456945