Dismissing the appeal of the assessee the Court held that the Assessing Officer is justified in rejecting the books of account for not maintaining the stock register. CIT (A) has the power of enhancement after giving an opportunity of hearing. No substantial question of law. (AY. 2004-05)
Deepak Rugs. v. CIT (2019) 418 ITR 179/ 310 CTR 135 / 180 DTR 141 / 267 Taxman 262 (All.) (HC)
S. 145 : Method of accounting–Not maintaining of stock record-Rejection of books of account is held to be valid-CIT(A) has the power of enhancement after giving an opportunity of hearing-No substantial question of law.[S. 145(3), 251]