Rejection of books and estimated turnover addition upheld where finished goods stock register was not produced and no legal infirmity was shown.

Non-production of the finished goods stock register justified rejection of the books of account and an estimated addition where the applicable circular required maintenance of that register below the stated turnover limit. In the absence of proper books and the relevant stock records, the assessing authority's estimation was upheld, and the first appellate authority had already granted partial relief that the Tribunal affirmed. Estimation of turnover was treated as a question of fact, and no legal infirmity or substantial question of law was shown to warrant interference. The revision therefore failed.

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Issues: Whether the rejection of the books of account and the addition made on estimate basis were justified, and whether any substantial question of law arose for interference.

Analysis: The assessee did not produce the stock register of finished goods at any stage, although the applicable circular required maintenance of such register for turnover below the stated limit. In the absence of proper books and the relevant stock register, the assessing authority was justified in rejecting the accounts and making an estimated addition. The first appellate authority had already granted partial relief, and the Tribunal upheld that view. Estimation of turnover is a question of fact, and on the facts found no legal infirmity was shown in the approach adopted by the authorities below.

Conclusion: The estimated addition was upheld and no substantial question of law arose. The revision failed.

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