https://www.taxtmi.com/caselaws?id=9144 The court upheld the Tribunal's findings in a case involving discrepancies between stock accounts and declarations to the bank by a Hindu undivided family engaged in cotton business. The court rejected the assessee's explanations for the discrepancies, estimating unaccounted income and ordering payment of costs to the revenue. Previous judicial decisions cited were distinguished, and the court concluded that the discrepancies justified rejecting the assessee's books of account. The Tribunal's decision to reject the explanations and make estimates based on stock declarations was deemed justified. en-us Thu, 15 Feb 1973 00:00:00 +0530 Fri, 19 Jun 2009 18:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9144 The court upheld the Tribunal's findings in a case involving discrepancies between stock accounts and declarations to the bank by a Hindu undivided family engaged in cotton business. The court rejected the assessee's explanations for the discrepancies, estimating unaccounted income and ordering payment of costs to the revenue. Previous judicial decisions cited were distinguished, and the court concluded that the discrepancies justified rejecting the assessee's books of account. The Tribunal's decision to reject the explanations and make estimates based on stock declarations was deemed justified. Case-Laws Income Tax Thu, 15 Feb 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9144