https://www.taxtmi.com/caselaws?id=157240 Turnover may be estimated for the full year after rejection of books where inspection results, seized slips and an assessee's own admission show large-scale suppression and unaccounted purchases. The suppression related to seven months of the year and was substantial, and no material showed that the undisclosed dealings stopped after inspection. The fact-finding authority also found no valid basis to conclude that outside purchases were discontinued immediately after inspection. The annual estimate was therefore supported by the available materials and accorded with best judgment assessment principles; it was upheld as neither arbitrary nor illegal. en-us Mon, 22 Oct 1990 00:00:00 +0530 Thu, 03 Oct 2013 13:01:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=157240 Turnover may be estimated for the full year after rejection of books where inspection results, seized slips and an assessee's own admission show large-scale suppression and unaccounted purchases. The suppression related to seven months of the year and was substantial, and no material showed that the undisclosed dealings stopped after inspection. The fact-finding authority also found no valid basis to conclude that outside purchases were discontinued immediately after inspection. The annual estimate was therefore supported by the available materials and accorded with best judgment assessment principles; it was upheld as neither arbitrary nor illegal. Case-Laws VAT and Sales Tax Mon, 22 Oct 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=157240