https://www.taxtmi.com/caselaws?id=260437 Rejection of books under section 145(3) was found unjustified where no specific defect was shown in trading results, purchases, sales, or closing stock, and the accounts were otherwise audited and verifiable. Mere non-production or non-maintenance of a stock register did not, by itself, justify rejection of book results, particularly when additional evidence explained the earlier non-production and the directors' dispute constituted sufficient cause. In the absence of incriminating material from search or other independent adverse evidence, the estimated trading addition based on alleged suppression of profit was unsustainable, and relief was granted to the assessee. en-us Thu, 23 Apr 2015 00:00:00 +0530 Fri, 12 Jun 2015 05:54:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260437 Rejection of books under section 145(3) was found unjustified where no specific defect was shown in trading results, purchases, sales, or closing stock, and the accounts were otherwise audited and verifiable. Mere non-production or non-maintenance of a stock register did not, by itself, justify rejection of book results, particularly when additional evidence explained the earlier non-production and the directors' dispute constituted sufficient cause. In the absence of incriminating material from search or other independent adverse evidence, the estimated trading addition based on alleged suppression of profit was unsustainable, and relief was granted to the assessee. Case-Laws Income Tax Thu, 23 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260437