https://www.taxtmi.com/caselaws?id=155930 Mere non-maintenance of a stock register does not automatically justify rejection of account books or resort to best judgment assessment. The governing rule is fact-specific: the tax authority must consider the totality of the record, including the surrounding books of account and the assessee's explanation, before treating the accounts as unreliable. Where the final fact-finding authority accepts the explanation as plausible and no inconsistency is found in the recorded transactions, interference is not warranted. On the facts noted, the account books could not be rejected solely because a stock register was not maintained. en-us Tue, 09 May 1989 00:00:00 +0530 Wed, 11 Sep 2013 11:29:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=155930 Mere non-maintenance of a stock register does not automatically justify rejection of account books or resort to best judgment assessment. The governing rule is fact-specific: the tax authority must consider the totality of the record, including the surrounding books of account and the assessee's explanation, before treating the accounts as unreliable. Where the final fact-finding authority accepts the explanation as plausible and no inconsistency is found in the recorded transactions, interference is not warranted. On the facts noted, the account books could not be rejected solely because a stock register was not maintained. Case-Laws VAT and Sales Tax Tue, 09 May 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=155930