https://www.taxtmi.com/caselaws?id=104022 Defects in books of account may justify rejection, but any trading addition must still be made on a reasonable estimate of the facts; here the addition was reduced because the assessee was in the first year of wholesale business and sales had increased. An addition for unexplained marriage expenditure was also partly scaled down, as the explanation was not fully accepted but part of the withdrawals and marriage gifts was considered credible. The difference in the account with Variety Glass Emporium was left for reconsideration by the Assessing Officer, and interest was required to be recomputed on the income finally determined. en-us Thu, 13 Jan 2000 00:00:00 +0530 Mon, 27 Feb 2012 12:42:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104022 Defects in books of account may justify rejection, but any trading addition must still be made on a reasonable estimate of the facts; here the addition was reduced because the assessee was in the first year of wholesale business and sales had increased. An addition for unexplained marriage expenditure was also partly scaled down, as the explanation was not fully accepted but part of the withdrawals and marriage gifts was considered credible. The difference in the account with Variety Glass Emporium was left for reconsideration by the Assessing Officer, and interest was required to be recomputed on the income finally determined. Case-Laws Income Tax Thu, 13 Jan 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104022