https://www.taxtmi.com/caselaws?id=466017 Rejection of books of account under s.145(3) was unwarranted because the assessee adequately explained the decline in gross profit rate as attributable to reduced labour charges and other cost differentials; consequently the books are accepted and the estimated GP of 35% was disallowed. Comparison with an associate concern was found non-comparable due to differing product specifications, product mix and input costs, so juxtaposition was improper and related additions were deleted. Consistency with prior assessments where books were accepted was relied upon to accept the declared trading results and delete the additions for the year under consideration. en-us Wed, 02 Nov 2016 00:00:00 +0530 Tue, 20 Jan 2026 15:05:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466017 Rejection of books of account under s.145(3) was unwarranted because the assessee adequately explained the decline in gross profit rate as attributable to reduced labour charges and other cost differentials; consequently the books are accepted and the estimated GP of 35% was disallowed. Comparison with an associate concern was found non-comparable due to differing product specifications, product mix and input costs, so juxtaposition was improper and related additions were deleted. Consistency with prior assessments where books were accepted was relied upon to accept the declared trading results and delete the additions for the year under consideration. Case-Laws Income Tax Wed, 02 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466017