https://www.taxtmi.com/caselaws?id=157107 Non-maintenance of the annual stock account under the Orissa Sales Tax Act does not, by itself, justify rejection of the books of account or enhancement of turnover by best judgment assessment. The stock account is intended to help verify the correctness of returns and accounts, but its absence is not conclusive proof that the books are false or incomplete. The assessing authority must record positive reasons showing that the accounts do not reflect the true position. Where purchase and sales registers are maintained in the ordinary course, are verifiable, and no suppression is detected, the books and returned turnover cannot be discarded merely for want of the annual stock account. en-us Wed, 15 Jan 1992 00:00:00 +0530 Mon, 30 Sep 2013 14:13:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=157107 Non-maintenance of the annual stock account under the Orissa Sales Tax Act does not, by itself, justify rejection of the books of account or enhancement of turnover by best judgment assessment. The stock account is intended to help verify the correctness of returns and accounts, but its absence is not conclusive proof that the books are false or incomplete. The assessing authority must record positive reasons showing that the accounts do not reflect the true position. Where purchase and sales registers are maintained in the ordinary course, are verifiable, and no suppression is detected, the books and returned turnover cannot be discarded merely for want of the annual stock account. Case-Laws VAT and Sales Tax Wed, 15 Jan 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=157107