https://www.taxtmi.com/caselaws?id=421229 Absence of a stock register by itself does not justify rejection of books under section 145(3) unless the accounts are shown to be incorrect or incomplete; here the books were regularly maintained with bills and vouchers, no defects were found in purchases, sales, or work-in-progress, and the estimated net profit addition was deleted. Interest on fixed deposits pledged for bank guarantees and miscellaneous scrap receipts had a direct nexus with the civil construction business, so they were assessable as business income and not as income from other sources. All disputed additions were deleted in favour of the assessee. en-us Mon, 04 Apr 2022 00:00:00 +0530 Sat, 04 Mar 2023 18:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421229 Absence of a stock register by itself does not justify rejection of books under section 145(3) unless the accounts are shown to be incorrect or incomplete; here the books were regularly maintained with bills and vouchers, no defects were found in purchases, sales, or work-in-progress, and the estimated net profit addition was deleted. Interest on fixed deposits pledged for bank guarantees and miscellaneous scrap receipts had a direct nexus with the civil construction business, so they were assessable as business income and not as income from other sources. All disputed additions were deleted in favour of the assessee. Case-Laws Income Tax Mon, 04 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421229