https://www.taxtmi.com/caselaws?id=798653 Unverifiable purchases arising from missing supplier confirmations, complete addresses and PAN details can justify rejection of books of account under Section 145(3), notwithstanding production of ledgers and a GST-based reconciliation of purchase and creditor balances. Profit estimation following book rejection must nevertheless remain reasonable and be supported by comparable industry data. Where the declared gross profit rate is materially below comparable rates, gross profit may be estimated at a fair rate rather than an excessive rate; the addition is consequently recomputed using a 4% gross profit rate on declared turnover. en-us Fri, 24 Jul 2026 00:00:00 +0530 Thu, 10 Sep 2026 08:51:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798653 Unverifiable purchases arising from missing supplier confirmations, complete addresses and PAN details can justify rejection of books of account under Section 145(3), notwithstanding production of ledgers and a GST-based reconciliation of purchase and creditor balances. Profit estimation following book rejection must nevertheless remain reasonable and be supported by comparable industry data. Where the declared gross profit rate is materially below comparable rates, gross profit may be estimated at a fair rate rather than an excessive rate; the addition is consequently recomputed using a 4% gross profit rate on declared turnover. Case-Laws Income Tax Fri, 24 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798653