https://www.taxtmi.com/caselaws?id=68027 Where an assessee maintains regular books of account with supporting vouchers, income must ordinarily be assessed on that basis under section 145(1) unless the books or the accounting system are validly rejected for specific and reasonable defects. In the absence of any identified unverifiable expenditure, demonstrable error, or recorded basis showing the accounts to be incomplete or unreliable, an income estimate cannot rest on conjecture. On those facts, the addition was not sustainable and the deletion of the addition was held to be in law. en-us Thu, 30 Jan 1992 00:00:00 +0530 Wed, 16 Mar 2011 14:36:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68027 Where an assessee maintains regular books of account with supporting vouchers, income must ordinarily be assessed on that basis under section 145(1) unless the books or the accounting system are validly rejected for specific and reasonable defects. In the absence of any identified unverifiable expenditure, demonstrable error, or recorded basis showing the accounts to be incomplete or unreliable, an income estimate cannot rest on conjecture. On those facts, the addition was not sustainable and the deletion of the addition was held to be in law. Case-Laws Income Tax Thu, 30 Jan 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68027