https://www.taxtmi.com/caselaws?id=800730 Section 145(3) permits rejection of accounts only where defects impair their correctness or completeness. A mismatch between GSTR-9C turnover and book turnover does not by itself justify rejection when reconciliation identifies sales made as a Kachha Arhatia on principals' behalf and separately reconciles trading sales, commission income and intra-day trading profit. Such agency sales are not the agent's turnover; gross commission is relevant. Without defects in audited records or material supporting an estimated profit rate through comparables or past results, an 8% income estimate is unsustainable and returned income should be accepted. en-us Tue, 06 Oct 2026 00:00:00 +0530 Sat, 10 Oct 2026 08:32:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800730 Section 145(3) permits rejection of accounts only where defects impair their correctness or completeness. A mismatch between GSTR-9C turnover and book turnover does not by itself justify rejection when reconciliation identifies sales made as a Kachha Arhatia on principals' behalf and separately reconciles trading sales, commission income and intra-day trading profit. Such agency sales are not the agent's turnover; gross commission is relevant. Without defects in audited records or material supporting an estimated profit rate through comparables or past results, an 8% income estimate is unsustainable and returned income should be accepted. Case-Laws Income Tax Tue, 06 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800730