https://www.taxtmi.com/caselaws?id=461238 Books of account were treated as unreliable where the assessee failed to maintain a stock register and a stock discrepancy emerged during survey, since those defects undermined the trading results; rejection of the books was therefore upheld. Gross profit could not be fixed solely by reference to the immediately preceding year, but the surrounding trading history and stock discrepancy required a fair estimate, so the rate was moderated to 6.75% and the trading addition was to be worked out on that basis. en-us Wed, 25 Apr 2012 00:00:00 +0530 Mon, 24 Mar 2025 18:14:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461238 Books of account were treated as unreliable where the assessee failed to maintain a stock register and a stock discrepancy emerged during survey, since those defects undermined the trading results; rejection of the books was therefore upheld. Gross profit could not be fixed solely by reference to the immediately preceding year, but the surrounding trading history and stock discrepancy required a fair estimate, so the rate was moderated to 6.75% and the trading addition was to be worked out on that basis. Case-Laws Income Tax Wed, 25 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461238