https://www.taxtmi.com/caselaws?id=772036 ITAT Pune rejected assessee's books of accounts due to improper maintenance and unsubstantiated expenses. The assessee claimed electricity expenditure for partners' residences and transportation expenses through self-made vouchers without proper serial numbers or cash book correlation. Travel vouchers lacked details of travelers and purpose. Partnership deed was not filed to support interest and remuneration claims to partners. Given the net profit of 0.95% was lower than previous (1.42%) and subsequent years (1.23%), and considering defects in expenditure claims totaling Rs. 30,81,192/-, ITAT directed AO to disallow Rs. 10,00,000/- as lump sum rather than estimating profit at 4% of total receipts. en-us Thu, 29 May 2025 00:00:00 +0530 Tue, 03 Jun 2025 08:50:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772036 ITAT Pune rejected assessee's books of accounts due to improper maintenance and unsubstantiated expenses. The assessee claimed electricity expenditure for partners' residences and transportation expenses through self-made vouchers without proper serial numbers or cash book correlation. Travel vouchers lacked details of travelers and purpose. Partnership deed was not filed to support interest and remuneration claims to partners. Given the net profit of 0.95% was lower than previous (1.42%) and subsequent years (1.23%), and considering defects in expenditure claims totaling Rs. 30,81,192/-, ITAT directed AO to disallow Rs. 10,00,000/- as lump sum rather than estimating profit at 4% of total receipts. Case-Laws Income Tax Thu, 29 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772036