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2012 (3) TMI 140 - ITAT, CHANDIGARHRejection of Books of Account on low GP ratio, payment to sister concerns section 40A(2), un-justified job work expenses - Held That:- Assessee furnished detailed explanation. Assessee had explained the decrease in sale price as also its reasons. AO admitted purchase price of the raw materials have risen during the year under consideration. Similarly non reporting of transaction can be best attributed to auditor and cannot be ground to reject books. Job work - previously was carried from outside and now from sister concern at same amount with no un-reasonable expenditure. - Decided in favour of assessee.
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