https://www.taxtmi.com/caselaws?id=12291 Rejection of books under s. 145(2) was upheld where the assessee did not maintain a stock register and unaccounted sales were detected in a search; the HC held that while absence of a stock register alone may not justify rejection, its absence coupled with corroborative factors such as detected undisclosed sales constituted sufficient material for the AO's satisfaction that the accounts were not correct and complete, and therefore the Tribunal's view disclosed no legal infirmity. Estimation of sales and enhancement of gross profit were sustained as a best judgment assessment grounded in past years' results and not arbitrary. No substantial question of law arose; the appeal was dismissed. en-us Tue, 09 Jul 2002 00:00:00 +0530 Wed, 24 Dec 2025 16:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12291 Rejection of books under s. 145(2) was upheld where the assessee did not maintain a stock register and unaccounted sales were detected in a search; the HC held that while absence of a stock register alone may not justify rejection, its absence coupled with corroborative factors such as detected undisclosed sales constituted sufficient material for the AO's satisfaction that the accounts were not correct and complete, and therefore the Tribunal's view disclosed no legal infirmity. Estimation of sales and enhancement of gross profit were sustained as a best judgment assessment grounded in past years' results and not arbitrary. No substantial question of law arose; the appeal was dismissed. Case-Laws Income Tax Tue, 09 Jul 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12291