Rejection of Books of Accounts for Stock Format Non-Compliance is unjustified

Chirag Nareshbhai Soni Vs ITO (ITAT Ahmedabad) ITAT Ahmedabad held that rejection of books of accounts merely for not providing stock details in desired format and without bringing any corroborative material on record suggesting specific defect in the books of accounts is unjustified. Facts- The assessee is an individual and engaged in the business of trading of gold and gold ornament through his proprietary concern. The assessee during the demonetization period i.e. 9th November 2016 to 31st December made cash deposit of Rs. 59.95 Lakh only in the bank account. The assessee during the assessm...