https://www.taxtmi.com/caselaws?id=768215 Bulk expense entries arising from aggregation, ledger misclassification, year-end transfers and unreversed provisions were not, by themselves, enough to treat the entire expenditure as bogus under section 37. On the facts, the work was actually executed, internal vouchers and disbursement sheets supported part of the claim, and the cash wage and coolie payments did not attract sections 40A(3) or 40(a)(ia). At the same time, the books were found incomplete and unreliable because of bulk postings, self-made vouchers and accounting mismatches, justifying rejection under section 145(3). Once estimation became necessary, a net profit rate of 10% of contractual receipts was considered reasonable. en-us Tue, 01 Oct 2024 00:00:00 +0530 Wed, 02 Apr 2025 18:47:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768215 Bulk expense entries arising from aggregation, ledger misclassification, year-end transfers and unreversed provisions were not, by themselves, enough to treat the entire expenditure as bogus under section 37. On the facts, the work was actually executed, internal vouchers and disbursement sheets supported part of the claim, and the cash wage and coolie payments did not attract sections 40A(3) or 40(a)(ia). At the same time, the books were found incomplete and unreliable because of bulk postings, self-made vouchers and accounting mismatches, justifying rejection under section 145(3). Once estimation became necessary, a net profit rate of 10% of contractual receipts was considered reasonable. Case-Laws Income Tax Tue, 01 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768215