https://www.taxtmi.com/caselaws?id=12633 The High Court upheld the Tribunal's decision to estimate profits in a tax case where the assessee failed to substantiate claims due to inadequate documentation. The Court supported the rejection of the maintained accounts by the Income-tax Officer, emphasizing the lack of original entry books and proper vouchers. Despite the Commissioner of Income-tax (Appeals) accepting a loss, the Tribunal's profit assessment was deemed valid, leading to the dismissal of Income-tax References and ruling in favor of the Revenue. en-us Tue, 12 Feb 2002 00:00:00 +0530 Wed, 20 May 2009 17:12:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12633 The High Court upheld the Tribunal's decision to estimate profits in a tax case where the assessee failed to substantiate claims due to inadequate documentation. The Court supported the rejection of the maintained accounts by the Income-tax Officer, emphasizing the lack of original entry books and proper vouchers. Despite the Commissioner of Income-tax (Appeals) accepting a loss, the Tribunal's profit assessment was deemed valid, leading to the dismissal of Income-tax References and ruling in favor of the Revenue. Case-Laws Income Tax Tue, 12 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12633