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Issues: Whether the Tribunal was justified in upholding rejection of the assessee's books of account for -maintenance of the mandatory stock register and remanding the matter for fresh consideration of turnover.
Analysis: The assessee was a manufacturer and was bound to maintain stock register under section 12(2) of the U. P. Trade Tax Act, 1948. The record showed undisputed discrepancies in the stock register and non-compliance with the statutory requirement. The absence of proper stock records rendered the accounts unreliable and justified rejection of the books. Once the books were rejected, determination of turnover on the basis of material on record and the Tribunal's decision to remand the matter for fresh adjudication could not be said to be illegal. The Court also found no error in the Tribunal's view that no substantial question of law arose.
Conclusion: The Tribunal's order remanding the matter was upheld and the assessee's challenge failed.
Final Conclusion: The revision was not allowed, and the dispute ended with the Tribunal's remand order being sustained.
Ratio Decidendi: Where a manufacturer fails to maintain the mandatory stock register required by law, the books of account may be rejected and turnover may be determined on the basis of available material, including by remand for fresh consideration.
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