https://www.taxtmi.com/caselaws?id=469788 Section 69A cannot be used to add alleged investment in fixed assets when the assets are already recorded in audited books and the balance-sheet, because the statutory condition of unaccounted money or investment is not met. Rejection of books under section 145(3) and an estimated gross profit addition also require specific defects in the accounts or reliable evidence of suppression; assumptions, projected values, or arithmetical estimates alone are insufficient. On both issues, the appellate deletion was sustained and the assessee succeeded. en-us Mon, 10 Mar 2025 00:00:00 +0530 Fri, 03 Jul 2026 19:00:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469788 Section 69A cannot be used to add alleged investment in fixed assets when the assets are already recorded in audited books and the balance-sheet, because the statutory condition of unaccounted money or investment is not met. Rejection of books under section 145(3) and an estimated gross profit addition also require specific defects in the accounts or reliable evidence of suppression; assumptions, projected values, or arithmetical estimates alone are insufficient. On both issues, the appellate deletion was sustained and the assessee succeeded. Case-Laws Income Tax Mon, 10 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469788