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2005 (5) TMI 21 - HC - Income TaxRejection of accounts - "1. Whether the learned Income-tax Appellate Tribunal was legally correct in upholding the addition in the trading account and holding that resort to the provisions of section 145(1) of the Act was justified?" - The decisions cited by learned counsel for the assessee reported in Pandit Bros. v. CIT; S. Veeriah Reddiar v. CIT and M. Durai Raj v. CIT are not applicable to the present case. They were cases of traders and not manufacturers. It may be mentioned here that there is nothing on record to show that in the previous year, the assessee has maintained books of account in a similar fashion and its books of account have been accepted. In view of the foregoing discussions, the question referred to above, is answered in the affirmative, in favour of the Revenue and against the assessee
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