https://www.taxtmi.com/caselaws?id=467640 ITAT Agra held that rejection of the books of account and full estimation of income could not be sustained where no specific defect in the audited books was shown and the appellate findings were not displaced by reliable material. It nevertheless accepted a restricted lump sum addition of Rs. 5 lakh to cover possible leakage. On the alleged bogus purchases issue, the Tribunal found that the purchases were recorded in the trading account and that the assessee had shown transaction genuineness and party creditworthiness; in the absence of rebuttal evidence, the addition was deleted. en-us Mon, 17 Feb 2025 00:00:00 +0530 Fri, 27 Mar 2026 19:52:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467640 ITAT Agra held that rejection of the books of account and full estimation of income could not be sustained where no specific defect in the audited books was shown and the appellate findings were not displaced by reliable material. It nevertheless accepted a restricted lump sum addition of Rs. 5 lakh to cover possible leakage. On the alleged bogus purchases issue, the Tribunal found that the purchases were recorded in the trading account and that the assessee had shown transaction genuineness and party creditworthiness; in the absence of rebuttal evidence, the addition was deleted. Case-Laws Income Tax Mon, 17 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467640