https://www.taxtmi.com/caselaws?id=179367 Rejection of books under section 145 requires specific defects showing that accounts are incorrect, incomplete or incapable of yielding proper income; low yield, alleged shortage in waste cotton, or the absence of a day-to-day stock register alone was held insufficient, and the addition on that basis was deleted. The disallowance of stores and spare parts expenditure was found excessive because increased consumption was explained by overhauling and restarting a closed plant, so it was reduced. The disallowance of depreciation on plant and machinery was sustained because no error in that adjustment was shown. The assessee obtained partial relief overall. en-us Sat, 31 Dec 2005 00:00:00 +0530 Sat, 27 Feb 2016 11:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179367 Rejection of books under section 145 requires specific defects showing that accounts are incorrect, incomplete or incapable of yielding proper income; low yield, alleged shortage in waste cotton, or the absence of a day-to-day stock register alone was held insufficient, and the addition on that basis was deleted. The disallowance of stores and spare parts expenditure was found excessive because increased consumption was explained by overhauling and restarting a closed plant, so it was reduced. The disallowance of depreciation on plant and machinery was sustained because no error in that adjustment was shown. The assessee obtained partial relief overall. Case-Laws Income Tax Sat, 31 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179367