https://www.taxtmi.com/caselaws?id=469973 Where the books of account were examined in remand and the recorded discrepancies were verified and reconciled, rejection of the books was unwarranted. The assessee's percentage completion method, together with provision for work done but not billed and anticipated costs, was found consistent with the facts and accounting standards. In the absence of any valid defect in the accounts, estimation of business profit at 8% of turnover could not be sustained. The assessee's returned computation, as accepted by the appellate authority, was upheld. en-us Wed, 12 Mar 2025 00:00:00 +0530 Fri, 10 Jul 2026 22:36:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469973 Where the books of account were examined in remand and the recorded discrepancies were verified and reconciled, rejection of the books was unwarranted. The assessee's percentage completion method, together with provision for work done but not billed and anticipated costs, was found consistent with the facts and accounting standards. In the absence of any valid defect in the accounts, estimation of business profit at 8% of turnover could not be sustained. The assessee's returned computation, as accepted by the appellate authority, was upheld. Case-Laws Income Tax Wed, 12 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469973