https://www.taxtmi.com/caselaws?id=462573 ITAT Delhi ruled in favor of assessee engaged in livestock and meat trading business. AO rejected books of accounts under section 145(3) and estimated income at 2% of total receipts. Tribunal held that rejection was unjustified as assessee explained all sales through banking channels with party-wise details and justified cash purchases from farmers/shepherds due to trade nature and rural practices. CIT(A) erred by not analyzing facts properly. Tribunal emphasized different trades have different realities, especially in unorganized rural sectors. Addition sustained by CIT(A) was deleted and appeal allowed. en-us Thu, 03 Jan 2019 00:00:00 +0530 Wed, 02 Jul 2025 10:56:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462573 ITAT Delhi ruled in favor of assessee engaged in livestock and meat trading business. AO rejected books of accounts under section 145(3) and estimated income at 2% of total receipts. Tribunal held that rejection was unjustified as assessee explained all sales through banking channels with party-wise details and justified cash purchases from farmers/shepherds due to trade nature and rural practices. CIT(A) erred by not analyzing facts properly. Tribunal emphasized different trades have different realities, especially in unorganized rural sectors. Addition sustained by CIT(A) was deleted and appeal allowed. Case-Laws Income Tax Thu, 03 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462573