https://www.taxtmi.com/caselaws?id=467580 Books of account cannot be rejected under section 145(3) unless identifiable defects show that the accounts are not correct or complete. On the facts, no specific defect was established to justify rejection of the assessee's books or estimation of income at 1% of turnover, and the year under appeal was materially the same as later years in which the identical addition had already been deleted. The ITAT Mumbai therefore held that the books could not be rejected and deleted the estimated addition in favour of the assessee. en-us Tue, 18 Feb 2025 00:00:00 +0530 Tue, 24 Mar 2026 12:33:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467580 Books of account cannot be rejected under section 145(3) unless identifiable defects show that the accounts are not correct or complete. On the facts, no specific defect was established to justify rejection of the assessee's books or estimation of income at 1% of turnover, and the year under appeal was materially the same as later years in which the identical addition had already been deleted. The ITAT Mumbai therefore held that the books could not be rejected and deleted the estimated addition in favour of the assessee. Case-Laws Income Tax Tue, 18 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467580