https://www.taxtmi.com/caselaws?id=795747 Rejection of books of account for non-production does not by itself permit an arbitrary estimate of business profits. A sustainable profit estimate must consider comparable cases, the taxpayer's past trading results, and subsequently recovered books with supporting evidence. Where comparable businesses showed materially lower profit rates and the complete accounting records required examination, the estimated addition was treated as unsustainable and the matter was restored for fresh consideration. en-us Thu, 11 Jun 2026 00:00:00 +0530 Mon, 27 Jul 2026 08:27:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795747 Rejection of books of account for non-production does not by itself permit an arbitrary estimate of business profits. A sustainable profit estimate must consider comparable cases, the taxpayer's past trading results, and subsequently recovered books with supporting evidence. Where comparable businesses showed materially lower profit rates and the complete accounting records required examination, the estimated addition was treated as unsustainable and the matter was restored for fresh consideration. Case-Laws Income Tax Thu, 11 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795747