https://www.taxtmi.com/caselaws?id=467544 Audited books of account cannot be rejected under section 145(3) merely because the assessee did not furnish details in the exact format preferred by the Assessing Officer, where quantity-wise and rate-wise records, sample bills, and supporting documents were produced and no specific defect or falsity was shown. Profit also cannot be estimated by mechanically applying earlier gross profit rates when the current year's turnover and business mix materially changed. On these facts, the rejection of books and the gross profit addition were held unsustainable, and the assessee succeeded. en-us Tue, 18 Feb 2025 00:00:00 +0530 Mon, 23 Mar 2026 20:37:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467544 Audited books of account cannot be rejected under section 145(3) merely because the assessee did not furnish details in the exact format preferred by the Assessing Officer, where quantity-wise and rate-wise records, sample bills, and supporting documents were produced and no specific defect or falsity was shown. Profit also cannot be estimated by mechanically applying earlier gross profit rates when the current year's turnover and business mix materially changed. On these facts, the rejection of books and the gross profit addition were held unsustainable, and the assessee succeeded. Case-Laws Income Tax Tue, 18 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467544