https://www.taxtmi.com/caselaws?id=157099 Recovered inspection slips showing purchase entries not reflected in the regular books were treated as unaccounted transactions because the assessee gave no satisfactory explanation at inspection or in the immediate statement, and a later affidavit-based version was rejected as an afterthought. On that basis, the best judgment addition for suppressed turnover was sustained. Once concealment was established from contemporaneous records and the lack of a credible explanation, the consequential penalty on the suppressed turnover was also upheld. The assessment and penalty were therefore affirmed. en-us Tue, 01 Oct 1991 00:00:00 +0530 Mon, 30 Sep 2013 12:41:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=157099 Recovered inspection slips showing purchase entries not reflected in the regular books were treated as unaccounted transactions because the assessee gave no satisfactory explanation at inspection or in the immediate statement, and a later affidavit-based version was rejected as an afterthought. On that basis, the best judgment addition for suppressed turnover was sustained. Once concealment was established from contemporaneous records and the lack of a credible explanation, the consequential penalty on the suppressed turnover was also upheld. The assessment and penalty were therefore affirmed. Case-Laws VAT and Sales Tax Tue, 01 Oct 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=157099