https://www.taxtmi.com/caselaws?id=62681 Absence of stock details justified rejection of the books under the proviso to section 145(1), and the estimated trading addition based on the assessee's own earlier statement and reasonable gross profit rates was sustained. Personal use of the firm's single car by the partners supported disallowance, but only one-fourth of the car expenses and one-fourth of the depreciation were held inadmissible. A cash shortage of Rs. 1,341 was treated as incidental to the business and allowable as business expenditure under section 37(1), so the disallowance was deleted. The appeal thus succeeded only in part, with relief confined to the car and cash-shortage claims. en-us Mon, 31 Mar 1980 00:00:00 +0530 Fri, 21 Jan 2011 11:07:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62681 Absence of stock details justified rejection of the books under the proviso to section 145(1), and the estimated trading addition based on the assessee's own earlier statement and reasonable gross profit rates was sustained. Personal use of the firm's single car by the partners supported disallowance, but only one-fourth of the car expenses and one-fourth of the depreciation were held inadmissible. A cash shortage of Rs. 1,341 was treated as incidental to the business and allowable as business expenditure under section 37(1), so the disallowance was deleted. The appeal thus succeeded only in part, with relief confined to the car and cash-shortage claims. Case-Laws Income Tax Mon, 31 Mar 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62681