https://www.taxtmi.com/caselaws?id=764382 ITAT Mumbai set aside the AO's rejection of books of accounts and net profit determination at 5.59% based on manufacturing comparables, while assessee was in bitumen trading business. The assessee failed to respond to AO's notices seeking expenditure details, and CIT(A) upheld rejection without identifying specific deficiencies in evidence. ITAT restored the matter to AO for fresh adjudication, directing assessee to furnish all required details and cooperate, while allowing both parties' appeals for statistical purposes. en-us Fri, 29 Nov 2024 00:00:00 +0530 Thu, 09 Jan 2025 07:46:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764382 ITAT Mumbai set aside the AO's rejection of books of accounts and net profit determination at 5.59% based on manufacturing comparables, while assessee was in bitumen trading business. The assessee failed to respond to AO's notices seeking expenditure details, and CIT(A) upheld rejection without identifying specific deficiencies in evidence. ITAT restored the matter to AO for fresh adjudication, directing assessee to furnish all required details and cooperate, while allowing both parties' appeals for statistical purposes. Case-Laws Income Tax Fri, 29 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764382