Addition Deleted as Books Cannot Be Rejected Without Specific Defects: ITAT Hyderabad

Vedkiran Infra Projects Private Limited Vs DCIT (ITAT Hyderabad) The ITAT Hyderabad allowed the appeal of the assessee by setting aside both the rejection of its audited books and the income estimation made by the Assessing Officer (AO). The Tribunal held that books of account can be rejected under Section 145 only when specific defects, inconsistencies, or false entries are identified—not on general remarks such as missing vouchers or high expenses. In this case, the AO pointed to no concrete discrepancies and relied only on general comparisons with the “industry,” without citing a sing...