https://www.taxtmi.com/caselaws?id=468450 Rejection of books and addition for alleged unaccounted sales based on estimated yield was held unsustainable where no cogent material showed suppression of production or falsity of accounts. The assessment relied on inferred variations in raw material consumption, electricity and furnace oil, but the estimate of 89% yield was not supported by comparable evidence. The court applied the settled principle that an addition cannot rest on pure guesswork, bare suspicion, or conjecture, and that statutory rejection of books requires tangible material. On those facts, the concurrent findings deleting the addition were not disturbed, and the assessee succeeded. en-us Thu, 04 Sep 2025 00:00:00 +0530 Wed, 06 May 2026 17:10:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468450 Rejection of books and addition for alleged unaccounted sales based on estimated yield was held unsustainable where no cogent material showed suppression of production or falsity of accounts. The assessment relied on inferred variations in raw material consumption, electricity and furnace oil, but the estimate of 89% yield was not supported by comparable evidence. The court applied the settled principle that an addition cannot rest on pure guesswork, bare suspicion, or conjecture, and that statutory rejection of books requires tangible material. On those facts, the concurrent findings deleting the addition were not disturbed, and the assessee succeeded. Case-Laws Income Tax Thu, 04 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468450