https://www.taxtmi.com/caselaws?id=154659 Rejection of a dealer's books of account cannot stand where it rests on a finding contrary to the record, and accounts free from defect cannot be discarded on an unsupported stock discrepancy. Where, however, a registered dealer fails to comply with statutory notice requirements, section 12(4) of the Orissa Sales Tax Act, 1947 permits best judgment assessment even if the books are otherwise correct. The estimate must still be bona fide, rational, and based on materials before the authority, not arbitrary or capricious. On that footing, the best judgment assessment was upheld and the reference was answered against the assessee. en-us Thu, 11 Dec 1986 00:00:00 +0530 Mon, 26 Aug 2013 12:13:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=154659 Rejection of a dealer's books of account cannot stand where it rests on a finding contrary to the record, and accounts free from defect cannot be discarded on an unsupported stock discrepancy. Where, however, a registered dealer fails to comply with statutory notice requirements, section 12(4) of the Orissa Sales Tax Act, 1947 permits best judgment assessment even if the books are otherwise correct. The estimate must still be bona fide, rational, and based on materials before the authority, not arbitrary or capricious. On that footing, the best judgment assessment was upheld and the reference was answered against the assessee. Case-Laws VAT and Sales Tax Thu, 11 Dec 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=154659