Account books cannot be rejected solely because purchase vouchers are self-prepared when transactions remain verifiable.

Account books for old-ornament trading cannot be rejected merely because purchase vouchers were self-prepared, where they contain relevant particulars such as date, seller name, weight and amount and the purchases and sales remain verifiable. A further objection based on alleged inadequacy of disclosed turnover in relation to stock was also insufficient to discard the books. On these facts, the dealer's book version was accepted and exemption from tax for the assessment year 1981-82 followed.

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Issues: Whether the account books of the dealer could be rejected on the grounds that purchase vouchers for old ornaments were not issued by the sellers, the vouchers were prepared by the assessee himself, and the disclosed turnover was inadequate in relation to the stock.

Analysis: The assessee had maintained vouchers containing the relevant particulars of the purchase of old ornaments, including the date, name of the seller, weight and amount. In the absence of any finding that the purchases and sales were not verifiable, the mere fact that the vouchers were self-prepared did not justify rejection of the book version. The second ground also could not sustain rejection, as inadequacy of disclosed sales in relation to stock was not a valid basis for discarding the account books.

Conclusion: The rejection of the account books was unjustified and the dealer was entitled to exemption from tax for the assessment year 1981-82.

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