In case of rejection of books only AO can made addition only by way of Income estimation

Dy. CIT Vs Sree Nagendra Constructions & Ors. (ITAT Hyderabad)

Where there is estimation of business income, disallowance and consequential addition of revenue expenditure is not sustainable, as held by the jurisdictional High Court in the case of Indwell Constructions v. CIT (1998) 232 ITR 776 (AP-HC). In view of the same, we agree with the view of the Commissioner (Appeals) that this issue is also squarely covered by the decision of the jurisdictional High Court in the case of Indwell Constructions (supra), wherein it has bee

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