https://www.taxtmi.com/caselaws?id=8102 Absence of a quantitative tally or stock record, when coupled with other defects in the accounts, can support an implied finding that true profits cannot be properly deduced from the books, so the proviso to section 13 of the Indian Income-tax Act, 1922 is attracted. The surrounding defects relied on included unverifiable disclosed profits, a false description of the business as wholesale, and unexplained balance-sheet excess. The mere fact of low profits or the absence of a stock register by itself is not enough, but those authorities do not assist where additional material shows the accounts are unreliable for assessment purposes. en-us Tue, 14 Apr 1970 00:00:00 +0530 Sat, 28 Mar 2009 17:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8102 Absence of a quantitative tally or stock record, when coupled with other defects in the accounts, can support an implied finding that true profits cannot be properly deduced from the books, so the proviso to section 13 of the Indian Income-tax Act, 1922 is attracted. The surrounding defects relied on included unverifiable disclosed profits, a false description of the business as wholesale, and unexplained balance-sheet excess. The mere fact of low profits or the absence of a stock register by itself is not enough, but those authorities do not assist where additional material shows the accounts are unreliable for assessment purposes. Case-Laws Income Tax Tue, 14 Apr 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8102