https://www.taxtmi.com/caselaws?id=6991 Where the regularly employed accounting method does not permit proper determination of income, profits and gains, the Income-tax Officer may invoke the proviso to section 13 of the Income-tax Act, 1922 and estimate profits on a different basis. The accounting here was found unreliable because raw materials were tracked by weight while finished goods were recorded in running feet, making reconciliation of production, sales and closing stock impossible. On that factual basis, the proviso was treated as properly applied and the reference was answered in favour of the Revenue. en-us Wed, 09 Feb 1966 00:00:00 +0530 Sat, 07 Feb 2009 18:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6991 Where the regularly employed accounting method does not permit proper determination of income, profits and gains, the Income-tax Officer may invoke the proviso to section 13 of the Income-tax Act, 1922 and estimate profits on a different basis. The accounting here was found unreliable because raw materials were tracked by weight while finished goods were recorded in running feet, making reconciliation of production, sales and closing stock impossible. On that factual basis, the proviso was treated as properly applied and the reference was answered in favour of the Revenue. Case-Laws Income Tax Wed, 09 Feb 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6991