https://www.taxtmi.com/caselaws?id=76014 HC held that the Assessing Officer could not reject the assessee's account books under section 145(3) solely because a daily stock register was not maintained and the gross profit ratio declined. The absence of a single register or a lower gross profit may warrant closer scrutiny, but without independent material evidencing falsity or incompleteness of the accounts, these factors alone do not justify treating the books as unreliable. The AO must produce concrete material before invoking section 145(3). en-us Fri, 07 May 2010 00:00:00 +0530 Fri, 29 Aug 2025 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76014 HC held that the Assessing Officer could not reject the assessee's account books under section 145(3) solely because a daily stock register was not maintained and the gross profit ratio declined. The absence of a single register or a lower gross profit may warrant closer scrutiny, but without independent material evidencing falsity or incompleteness of the accounts, these factors alone do not justify treating the books as unreliable. The AO must produce concrete material before invoking section 145(3). Case-Laws Income Tax Fri, 07 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76014