https://www.taxtmi.com/caselaws?id=35957 The High Court of Orissa upheld the rejection of the assessee's books of account and the estimation of sales and gross profit by the revenue. The court found the revenue's actions justified based on the lack of properly maintained accounts and the reasonable estimation of gross profit supported by the assessee's past records. Despite the assessee's explanations, including intentions to close down a section without profit, the court ruled in favor of the revenue, concluding that the rejection of accounts was warranted as they did not demonstrate any profit. Judge J. K. Mohanty concurred with the judgment. en-us Wed, 15 Apr 1981 00:00:00 +0530 Thu, 18 Mar 2010 11:47:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35957 The High Court of Orissa upheld the rejection of the assessee's books of account and the estimation of sales and gross profit by the revenue. The court found the revenue's actions justified based on the lack of properly maintained accounts and the reasonable estimation of gross profit supported by the assessee's past records. Despite the assessee's explanations, including intentions to close down a section without profit, the court ruled in favor of the revenue, concluding that the rejection of accounts was warranted as they did not demonstrate any profit. Judge J. K. Mohanty concurred with the judgment. Case-Laws Income Tax Wed, 15 Apr 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35957