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Assessee has raised ground of appeal that on the facts and in the circumstances of thecasethe learned CIT(A) has factually and legally erred in holding that provisions of section 145(3) was rightly applied by the ld. AO without appreciating the fact that no specific mistake or discrepancy could be pointed out as pleaded by the appellant in the appeal proceedings on the basis of various juridical pronouncements. Thus, the findings of the Authorities below on the point deserve to be quashed summarily.

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Section 145 of the Income Tax Act, 1961 - Rejection of books—The comparative shortages for two months is not reflective of any inconsistent claim of such shortages for the whole year and it is even not the case of the Revenue that similar discrepancies are found in remaining months, therefore the shortages so claimed by the assessee are lower than what has been claimed and allowed by the Revenue in past two years for which the requisite data is available on record and therefore, the same being found comparable cannot be form a rational basis for rejection of books of accounts so maintained by the assessee, in the result, the rejection of books of account is hereby set-aside and the consequent trading addition is deleted - TASBEER DEVI V/s ITO - [2020] 27 ITCD Online 052 (ITAT-JAIPUR)

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