https://www.taxtmi.com/caselaws?id=759826 ITAT Jaipur held that CIT(A) improperly rejected books of accounts under section 145 without satisfying statutory conditions, as AO found no defects in records and accepted partial sales as genuine. The tribunal ruled that revenue cannot accept part of sales as explained while rejecting the remainder from identical evidence. Cash deposits from demonetized currency during sales transactions cannot be treated as unexplained credits under sections 68/69A since sales were already recorded in profit/loss accounts. Both grounds raised by assessee were allowed. en-us Thu, 03 Oct 2024 00:00:00 +0530 Tue, 08 Oct 2024 10:06:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759826 ITAT Jaipur held that CIT(A) improperly rejected books of accounts under section 145 without satisfying statutory conditions, as AO found no defects in records and accepted partial sales as genuine. The tribunal ruled that revenue cannot accept part of sales as explained while rejecting the remainder from identical evidence. Cash deposits from demonetized currency during sales transactions cannot be treated as unexplained credits under sections 68/69A since sales were already recorded in profit/loss accounts. Both grounds raised by assessee were allowed. Case-Laws Income Tax Thu, 03 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759826