https://www.taxtmi.com/caselaws?id=49584 The proviso to section 13 of the Income-tax Act may be invoked where the assessee's accounts are unreliable and true profits cannot properly be deduced from them. Defects such as non-production of vouchers, absence of a quantitative tally, unexplained cheques and purchases, and inadequate books justified rejection of the accounts and estimation of profits on relevant material. Ancillary reference to profit rates in other cases did not, by itself, breach natural justice because no undisclosed adverse material was used as substantive evidence against the assessee. The stated ratio is that unreliable accounts permit estimation, while mere supporting reference to comparable cases does not create denial of opportunity. en-us Wed, 03 Feb 1960 00:00:00 +0530 Wed, 03 Sep 2014 18:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49584 The proviso to section 13 of the Income-tax Act may be invoked where the assessee's accounts are unreliable and true profits cannot properly be deduced from them. Defects such as non-production of vouchers, absence of a quantitative tally, unexplained cheques and purchases, and inadequate books justified rejection of the accounts and estimation of profits on relevant material. Ancillary reference to profit rates in other cases did not, by itself, breach natural justice because no undisclosed adverse material was used as substantive evidence against the assessee. The stated ratio is that unreliable accounts permit estimation, while mere supporting reference to comparable cases does not create denial of opportunity. Case-Laws Income Tax Wed, 03 Feb 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49584