https://www.taxtmi.com/article/detailed?id=7312 Section 145 permits computation of business income under cash or mercantile systems; under Section 145(3) the Assessing Officer may reject books of account if not satisfied about their correctness, regularity of the accounting method, or compliance with notified standards, and thereafter make assessment in the manner of Section 144. Rejection must rest on material reasons-such as defective accounts, non production of records, or unexplained discrepancies-and the officer must act judicially, provide opportunity to the assessee, and base any estimation on relevant material rather than conjecture. en-us Thu, 09 Mar 2017 10:50:37 +0530 Thu, 09 Mar 2017 10:50:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7312 Section 145 permits computation of business income under cash or mercantile systems; under Section 145(3) the Assessing Officer may reject books of account if not satisfied about their correctness, regularity of the accounting method, or compliance with notified standards, and thereafter make assessment in the manner of Section 144. Rejection must rest on material reasons-such as defective accounts, non production of records, or unexplained discrepancies-and the officer must act judicially, provide opportunity to the assessee, and base any estimation on relevant material rather than conjecture. Articles Income Tax Thu, 09 Mar 2017 10:50:37 +0530 https://www.taxtmi.com/article/detailed?id=7312