https://www.taxtmi.com/caselaws?id=770794 ITAT Jaipur allowed the assessee's appeal against rejection of books of accounts under section 145(3). The AO rejected books solely based on discrepancy between purchase figures in books versus portal database, applying 8% gross profit rate. ITAT held rejection was based on conjectures without identifying actual defects in regularly maintained and audited books. The assessee operated as commission agent for perishable agricultural goods with legitimate business model. Since books showed no defects warranting rejection under section 145(3), the estimated profit addition was deleted. en-us Tue, 01 Apr 2025 00:00:00 +0530 Fri, 16 May 2025 08:40:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770794 ITAT Jaipur allowed the assessee's appeal against rejection of books of accounts under section 145(3). The AO rejected books solely based on discrepancy between purchase figures in books versus portal database, applying 8% gross profit rate. ITAT held rejection was based on conjectures without identifying actual defects in regularly maintained and audited books. The assessee operated as commission agent for perishable agricultural goods with legitimate business model. Since books showed no defects warranting rejection under section 145(3), the estimated profit addition was deleted. Case-Laws Income Tax Tue, 01 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770794