https://www.taxtmi.com/caselaws?id=472974 Verification of books of account, bills, vouchers, bank records and contract documents during remand proceedings revealed no discrepancies. Trade creditor information was found to be in order, while random checks of purchase bills, contract bills, job-work charges and expenses also supported the recorded results. The rejection of books and estimation of income at a net profit rate of 8% therefore lacked a sustainable factual basis. Deletion of the addition based on estimated net profit was consequently upheld in favour of the assessee. en-us Fri, 06 Jan 2023 00:00:00 +0530 Fri, 30 Oct 2026 17:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472974 Verification of books of account, bills, vouchers, bank records and contract documents during remand proceedings revealed no discrepancies. Trade creditor information was found to be in order, while random checks of purchase bills, contract bills, job-work charges and expenses also supported the recorded results. The rejection of books and estimation of income at a net profit rate of 8% therefore lacked a sustainable factual basis. Deletion of the addition based on estimated net profit was consequently upheld in favour of the assessee. Case-Laws Income Tax Fri, 06 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472974