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2012 (11) TMI 1104 - AT - Income TaxRejecting the books of account and applying provisions of section 145(3) - Held that:- CIT(A) was quite aware as is evident from the findings in his order that the assessee has maintained regular books of account showing details of purchases and sales including that sale of scrap. The findings thereafter in the said paras are based on surmises and conjectures. The reliance is placed by the ld. CIT(A) on the decisions of various courts of law, therefore, cannot help the Revenue. There is no evidence with any of the authorities below that the assessee has made the sales of the production which have been produced by the assessee and had made sales outside the books of account. In the facts and circumstances of the case and to repeat our decision, the learned CIT(A) is not justified in confirming the invocation of provisions of section 145(3) of the Act and no additions can be made accordingly, as discussed hereinabove - Decided in favour of assessee
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