https://www.taxtmi.com/caselaws?id=763808 ITAT Ahmedabad upheld the rejection of books of accounts under section 145A and estimation of gross profit at 20.97 percent. The tribunal found that the assessee consistently sought adjournments and failed to establish genuineness of expenses. CIT(Appeals) correctly concluded that the assessee's accounts did not provide a true picture of business affairs, making expense verification difficult. The AO's rejection of books was justified as accounts failed to reflect actual business state. Appeal decided against assessee. en-us Thu, 26 Dec 2024 00:00:00 +0530 Sat, 28 Dec 2024 08:30:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763808 ITAT Ahmedabad upheld the rejection of books of accounts under section 145A and estimation of gross profit at 20.97 percent. The tribunal found that the assessee consistently sought adjournments and failed to establish genuineness of expenses. CIT(Appeals) correctly concluded that the assessee's accounts did not provide a true picture of business affairs, making expense verification difficult. The AO's rejection of books was justified as accounts failed to reflect actual business state. Appeal decided against assessee. Case-Laws Income Tax Thu, 26 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763808