Held that the assessee has not produced proper books and evidence before the AO, the issue is restored back to the AO to estimate the profit of the assessee at a percentage worked out on the basis of preceding three years. (AY.2014-15)
Nanda Agrawal v. ITO (2024) 230 TTJ 46 (UO)/ 167 taxmann.com 707 (Raipur) (Trib)
S. 145 : Method of accounting-Failure to produce details-Rejection of books of account is justified-Matter is restored back to the AO to estimate the profit of the assessee at a percentage worked out on the basis of preceding three years. [S. 145(3)]