Authorities Can Add for Discrepancies but Not Reject Entire Books in Profit Estimation Case.

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....Estimation of net profit - rejection of books of accounts - Once the books of account of the assessee was produced before the lower authorities and if there is certain discrepancy the authorities were free to make addition to that extent of discrepancies noticed by the authorities and, authorities were precluded in rejecting the books of account of the assessee - AT....