https://www.taxtmi.com/caselaws?id=157024 Where watch sales were omitted from returns and accounts, coded entries and repeated non-production of books supported a finding of wilful suppression. The seized materials from the shop and residence disclosed substantial unaccounted sales, and the assessee's own explanations were used to decode the concealed entries. On those facts, the Tribunal's view that the books were not rejected was held inconsistent with the record, and the settled position on best judgment assessment and consequential penalty was applied. The penalty was therefore sustained and the deletion set aside, restoring the penalty order in favour of Revenue. en-us Tue, 17 Sep 1991 00:00:00 +0530 Fri, 27 Sep 2013 17:21:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=157024 Where watch sales were omitted from returns and accounts, coded entries and repeated non-production of books supported a finding of wilful suppression. The seized materials from the shop and residence disclosed substantial unaccounted sales, and the assessee's own explanations were used to decode the concealed entries. On those facts, the Tribunal's view that the books were not rejected was held inconsistent with the record, and the settled position on best judgment assessment and consequential penalty was applied. The penalty was therefore sustained and the deletion set aside, restoring the penalty order in favour of Revenue. Case-Laws VAT and Sales Tax Tue, 17 Sep 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=157024