https://www.taxtmi.com/caselaws?id=191693 The proviso to section 13 of the Indian Income-tax Act, 1922 permits the Income-tax Officer to reject book results and estimate income even where regular accounts are maintained, if the method or defects in the accounts prevent true profits from being properly deduced. On the stated facts, serious defects such as incomplete vouchers, unexplained sale-rate variations, absence of a stock register, and an unverifiable inventory basis justified the finding that the books did not reflect real profits. The Tribunal's factual finding was treated as final in reference proceedings because it was supported by evidence, and the proviso was therefore rightly applied. en-us Thu, 21 Dec 1961 00:00:00 +0530 Thu, 13 Apr 2017 14:56:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191693 The proviso to section 13 of the Indian Income-tax Act, 1922 permits the Income-tax Officer to reject book results and estimate income even where regular accounts are maintained, if the method or defects in the accounts prevent true profits from being properly deduced. On the stated facts, serious defects such as incomplete vouchers, unexplained sale-rate variations, absence of a stock register, and an unverifiable inventory basis justified the finding that the books did not reflect real profits. The Tribunal's factual finding was treated as final in reference proceedings because it was supported by evidence, and the proviso was therefore rightly applied. Case-Laws Income Tax Thu, 21 Dec 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191693