https://www.taxtmi.com/caselaws?id=281563 Where the books of account are found unreliable and incapable of providing a proper basis for deduction of business profits, the income-tax authorities may reject the accounts and compute income by reasonable estimation on relevant materials such as comparable profits and past performance. The detailed reasons recorded for rejecting the books were accepted, and the assessment based on estimated income was upheld as justified. en-us Mon, 23 Oct 1939 00:00:00 +0530 Tue, 25 Jun 2019 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281563 Where the books of account are found unreliable and incapable of providing a proper basis for deduction of business profits, the income-tax authorities may reject the accounts and compute income by reasonable estimation on relevant materials such as comparable profits and past performance. The detailed reasons recorded for rejecting the books were accepted, and the assessment based on estimated income was upheld as justified. Case-Laws Income Tax Mon, 23 Oct 1939 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281563