Books cannot be rejected only on the basis that qualitative and piece wise record of Diamonds not been maintained

Brief of the case:

Books of account cannot be rejected only on the basis that qualitative and piece wise records of diamonds have not been maintained;

ITAT held in Dy CIT Vs Ms Nevil Gems that if the assessee had maintained quantitative details of diamonds but had not qualitative and piece-wise details then in that case books of account could not be rejected because it was not necessary to maintain qualitative records or piece wise details as p

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