Assessee filed its return of income declaring income on basis of regularly maintained books.  Assessing Officer invoking section 145(3) passed assessment under section 144, applying net profit rate of 10 per cent.Commissioner (Appeals) and Tribunal c held that no infirmity in books was noticed and application of net profit rate was based on pure guesswork. On appeal by revenue the Court held that, since no defect or discrepancy was recorded in books maintained for relevant year, Assessing Officer could not have invoked section 145(3) and applied net profit rate of 10 per cent solely on basis of assessee’s earlier declaration before Settlement Commission. Order of Tribunal affirmed. (AY. 2014-15)