Method of Accounting Can’t be Rejected u/s 145 Without Examination of Books

VRB Foods Pvt. Ltd. Vs DCIT (ITAT Delhi) The issue under consideration is whether rejection of method of accounting under section 145 without even examination of books of assessee is justified in law? ITAT states that, the whole addition is made by applying the provision of section 145(3) of the Act. The provisions of Section 145 (3) can only be applied if the assessing officer is not satisfied about the correctness or completeness of accounts of the assessee primarily. Therefore, even without examination of the books of accounts of the assessee which assessee has not produced despite called f...