https://www.taxtmi.com/caselaws?id=150879 Rejection of accounts was upheld where the books were defective not only for absence of a stock register, but also because the assessee failed to produce opening and closing stock lists, gave an unsatisfactory explanation for falling purchases and sales, and did not maintain separate accounts for goods taxable at different rates. The principle applied was that absence of a stock register alone is not always decisive, but it becomes material when the overall records do not permit reliable deduction of turnover or profit. The best judgment addition to turnover was therefore sustained. en-us Tue, 04 Mar 1975 00:00:00 +0530 Thu, 23 May 2013 18:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=150879 Rejection of accounts was upheld where the books were defective not only for absence of a stock register, but also because the assessee failed to produce opening and closing stock lists, gave an unsatisfactory explanation for falling purchases and sales, and did not maintain separate accounts for goods taxable at different rates. The principle applied was that absence of a stock register alone is not always decisive, but it becomes material when the overall records do not permit reliable deduction of turnover or profit. The best judgment addition to turnover was therefore sustained. Case-Laws VAT and Sales Tax Tue, 04 Mar 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=150879