https://www.taxtmi.com/caselaws?id=461905 ITAT Mumbai dismissed revenue's appeal against CIT(A)'s order accepting assessee's books of account. AO had rejected books due to inadvertent error in Tax Audit Report date and estimated profit at 8% of revenue. ITAT held AO failed to establish that assessee didn't follow prescribed accounting methods under section 145(1) or compute income per notified standards under section 145(2). The inadvertent TAR error was explained by assessee and auditor's affidavit, with rectified TAR subsequently filed. ITAT confirmed CIT(A)'s decision reversing book rejection and deletion of estimated addition. en-us Wed, 25 Oct 2023 00:00:00 +0530 Wed, 07 May 2025 18:58:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461905 ITAT Mumbai dismissed revenue's appeal against CIT(A)'s order accepting assessee's books of account. AO had rejected books due to inadvertent error in Tax Audit Report date and estimated profit at 8% of revenue. ITAT held AO failed to establish that assessee didn't follow prescribed accounting methods under section 145(1) or compute income per notified standards under section 145(2). The inadvertent TAR error was explained by assessee and auditor's affidavit, with rectified TAR subsequently filed. ITAT confirmed CIT(A)'s decision reversing book rejection and deletion of estimated addition. Case-Laws Income Tax Wed, 25 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461905