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2013 (7) TMI 521 - HC - Income TaxRejection of books of accounts - Whether in the absence of any finding that the method of accounting adopted by the assessee is such that the income cannot be properly deduced, the AO erred in law in taking recourse to the first proviso to section 145(1) – Held that:- It appears that the AO, the CIT and ITAT have not considered the matter in a proper perspective for rejecting the books of account - the matter to be remitted back to the CIT (Appeals) for fresh decision after hearing the assessee in this regard - though certain reasons have been given by the AO but the entire basis of non-acceptance of the account books as recorded by the Assessing Officer was not correct - the factual position can be ascertained only from a perusal of the account books – case remanded back - appeal decided in favour of assessee.
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