https://www.taxtmi.com/caselaws?id=149746 Books of account cannot be rejected merely because the profit rate is low if the accounts are otherwise free from defects. Rejection requires valid reasons showing that the books are false, unreliable, or improperly maintained. A low profit margin may justify closer scrutiny, but it does not by itself prove that the accounts are not genuine. Trading results may vary because of market conditions, competition, and business strategy, so low profitability alone is not conclusive evidence of defective accounts. The question was answered in the negative, in favour of the assessee. en-us Fri, 13 Feb 1970 00:00:00 +0530 Thu, 02 May 2013 18:40:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=149746 Books of account cannot be rejected merely because the profit rate is low if the accounts are otherwise free from defects. Rejection requires valid reasons showing that the books are false, unreliable, or improperly maintained. A low profit margin may justify closer scrutiny, but it does not by itself prove that the accounts are not genuine. Trading results may vary because of market conditions, competition, and business strategy, so low profitability alone is not conclusive evidence of defective accounts. The question was answered in the negative, in favour of the assessee. Case-Laws VAT and Sales Tax Fri, 13 Feb 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=149746