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2014 (3) TMI 807 - RAJASTHAN HIGH COURTAddition made in account of country liquor – Net profit @15% applied – Held that:- When the sale vouchers have not been maintained or issued then certainly provisions of Section 145(3) can be invoked by the Revenue - The assessee cannot contend that when all other things are fully proved and only because sale vouchers are lacking then book results cannot be rejected - the authorities have rightly rejected the trading results by invoking the provisions of Section 145(3) of the Act - when the trading results have been rejected, books of accounts have been rejected then a fair estimate is required to be made - there was no other alternate with the AO to have adopted an average gross profit rate, which has been upheld by the CIT(A) and ITAT – relying upon Chhabildas Tribhuvandas Shah v. CIT [1964 (9) TMI 8 - SUPREME Court] - where GP rate is applied or trading addition is made or addition is on the basis of appreciation of evidence, no substantial question of law arise – thus, there is no merit in the appeal – Decided against Assessee.
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