https://www.taxtmi.com/caselaws?id=470058 Rejection of books under Section 145(3) followed by profit estimation absorbs trading-result issues, including sundry creditors arising from purchases; a separate revision on that ground is therefore not sustainable. Unsecured loans remain independent of the estimated trading results, and their non-examination may render the assessment erroneous and prejudicial to Revenue under Section 263. The revisionary exercise is consequently limited to verification of the unsecured loans, while the direction concerning sundry creditors is excluded. The central distinction is between matters subsumed in estimated trading results and independent items requiring separate examination. en-us Thu, 13 Mar 2025 00:00:00 +0530 Tue, 14 Jul 2026 19:02:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470058 Rejection of books under Section 145(3) followed by profit estimation absorbs trading-result issues, including sundry creditors arising from purchases; a separate revision on that ground is therefore not sustainable. Unsecured loans remain independent of the estimated trading results, and their non-examination may render the assessment erroneous and prejudicial to Revenue under Section 263. The revisionary exercise is consequently limited to verification of the unsecured loans, while the direction concerning sundry creditors is excluded. The central distinction is between matters subsumed in estimated trading results and independent items requiring separate examination. Case-Laws Income Tax Thu, 13 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470058