Case Law Details
Mukesh Kumar Vs DCIT (ITAT Delhi)
ITAT Delhi held that rejection of books of accounts u/s. 145(3) of the Income Tax Act justifiable as there was number of defects and discrepancies in the same.
Facts- Assessee has preferred the present appeal contesting that CIT(A) has erred in law in confirming action of AO in not allowing the books of accounts which has been rejected by AO arbitrarily and without any jurisdiction u/s. 145(3).
Notably, AO during the assessment proceeding rejected the books of accounts observing that the assessee has not maintained proper bills and vouchers in respect of various expenses claimed by him in the profit & loss account.
Conclusion- Held that on careful perusal of assessment as well as first appellate order we are in agreement with the conclusion drawn by the ld. CIT(A) that the AO was justified in rejecting books of accounts of assessee u/s. 145(3) of the Act as there was number of defects and discrepancies.
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