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Grounds of appeal raised by the assessee is that on the facts and in the circumstances of thecaseand in law, Ld. CIT-A erred in sustaining addition of Rs. 146,76,345 made by Ld. AO on basis of perverse findings recorded in perfunctory manner without appreciating objectively the arguments and contentions of assessee taken before Ld. AO and Ld. CIT-A where it was highlighted with reference tocaserecords that nocaseis made out for invocation of section 145 of the Act and merely on inchoate comments of statutory auditor and on incorrect deficiencies in valuation, impugned addition is made which stands already jettisoned in order of Hon’ble Delhi IT AT in similar facts in AY 2010-11 & AY 2011-12 (order of B bench in IT A 2291/ & 2292/Del/2015 order dated 29/12/2017) which squarely covers the present issue in favor of assessee.

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Sec. 145 of Income Tax Act, 1961—Rejection of books— The provisions of Section 145 (3) can only be applied if the assessing officer is not satisfied about the correctness or completeness of accounts of the assessee primarily, therefore, even without examination of the books of accounts of the assessee which assessee has not produced despite called for by the assessing officer, application of the provisions of Section 145 (3) is premature, therefore, in the interest of justice, the whole issue was aside back to the file of the ld AO with a direction to the assessee to produce books of accounts and vouchers before him for examination. - VRB FOODS PVT. LTD. V/s DEPUTY CIT - [2020] 27 ITCD Online 050 (ITAT-DELHI)

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