https://www.taxtmi.com/caselaws?id=214676 The court upheld the rejection of books of accounts under section 145(3) due to lack of supporting vouchers, resulting in the estimation of net profits. The estimation was based on professional receipts and historical data, with disallowed amounts adjusted to enhance the income figure. Disallowed expenses for personal use were added to the income calculation. The direction to consider penalty proceedings under section 271D was deemed non-appealable, and no new grounds for appeal were accepted. The appeal was partly allowed for statistical purposes, emphasizing the need for a fresh assessment based on verified information. en-us Fri, 29 Jun 2012 00:00:00 +0530 Tue, 10 Jul 2012 16:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214676 The court upheld the rejection of books of accounts under section 145(3) due to lack of supporting vouchers, resulting in the estimation of net profits. The estimation was based on professional receipts and historical data, with disallowed amounts adjusted to enhance the income figure. Disallowed expenses for personal use were added to the income calculation. The direction to consider penalty proceedings under section 271D was deemed non-appealable, and no new grounds for appeal were accepted. The appeal was partly allowed for statistical purposes, emphasizing the need for a fresh assessment based on verified information. Case-Laws Income Tax Fri, 29 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214676