https://www.taxtmi.com/caselaws?id=10907 Rejection of books of account was upheld where the assessee failed to produce co-related details of finished products, despite giving raw material sales details, and the gross profit rate was significantly lower than the previous year. On those facts, the assessing authority made a best judgment assessment and the appellate authorities found the trading results justified interference. The Tribunal treated the matter as appreciation of evidence and sustained a lump sum addition. The High Court held that the issue was factual and no substantial question of law arose. en-us Thu, 01 May 2003 00:00:00 +0530 Mon, 27 Jul 2009 17:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10907 Rejection of books of account was upheld where the assessee failed to produce co-related details of finished products, despite giving raw material sales details, and the gross profit rate was significantly lower than the previous year. On those facts, the assessing authority made a best judgment assessment and the appellate authorities found the trading results justified interference. The Tribunal treated the matter as appreciation of evidence and sustained a lump sum addition. The High Court held that the issue was factual and no substantial question of law arose. Case-Laws Income Tax Thu, 01 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10907