https://www.taxtmi.com/caselaws?id=9526 Section 145 can be applied only when the accounts are shown to be incorrect or incomplete, or when the method of accounting does not permit proper deduction of income. As no sales outside the books were found and the Tribunal recorded no clear finding on the correctness and completeness of the books, a direction to apply a gross profit rate could not stand on the existing record; the matter was remitted for fresh consideration. Agricultural income of the assessee's minor child could be taken into account for determining the rate of tax, because the statutory scheme and the relevant Finance Act permitted such inclusion for rate purposes; that position was upheld against the assessee. en-us Tue, 13 Dec 2005 00:00:00 +0530 Tue, 23 Jun 2009 17:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9526 Section 145 can be applied only when the accounts are shown to be incorrect or incomplete, or when the method of accounting does not permit proper deduction of income. As no sales outside the books were found and the Tribunal recorded no clear finding on the correctness and completeness of the books, a direction to apply a gross profit rate could not stand on the existing record; the matter was remitted for fresh consideration. Agricultural income of the assessee's minor child could be taken into account for determining the rate of tax, because the statutory scheme and the relevant Finance Act permitted such inclusion for rate purposes; that position was upheld against the assessee. Case-Laws Income Tax Tue, 13 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9526