On Revenue’s appeal, the Tribunal reversed the CIT(A)’s Order and held that where the AO had repeatedly asked the assessee to produce the necessary details but the books of account were not produced, the AO rightly rejected the books of accounts by invoking the provisions of section 145(3) of the Act. (ITA No. 734/Del/2014) (AY. 2007-08)
ACIT v. Origin Express (I) North Pvt. Ltd (2018) 63 ITR 71 (SN) (Delhi)
S. 145: Method of accounting – Failure to produce the necessary details as asked by the AO-Rejection of the books of accounts is held to be justified .[S.145(3) ]