https://www.taxtmi.com/caselaws?id=62655 The court partially allowed the appeal, reducing the assessment enhancement from Rs. 40,000 to Rs. 2,000 for M/s Jindal Oils Mills. The discrepancies in accounts were scrutinized, with the court emphasizing the inadequacy of explanations provided by the dealer. The court found that adverse inferences based solely on the omission of a Rs. 10,000 entry were unwarranted. The credibility of explanations and the impact of discrepancies on the assessment were pivotal in determining the final assessment amount, highlighting the necessity for thorough examination and satisfactory explanations in tax assessments. en-us Mon, 17 Jan 1977 00:00:00 +0530 Sat, 02 Jan 2016 11:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62655 The court partially allowed the appeal, reducing the assessment enhancement from Rs. 40,000 to Rs. 2,000 for M/s Jindal Oils Mills. The discrepancies in accounts were scrutinized, with the court emphasizing the inadequacy of explanations provided by the dealer. The court found that adverse inferences based solely on the omission of a Rs. 10,000 entry were unwarranted. The credibility of explanations and the impact of discrepancies on the assessment were pivotal in determining the final assessment amount, highlighting the necessity for thorough examination and satisfactory explanations in tax assessments. Case-Laws VAT and Sales Tax Mon, 17 Jan 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62655