https://www.taxtmi.com/caselaws?id=158948 In a hotel business, accounts should not be rejected for best judgment estimation unless the defects are substantial and materially impair reliability. The Kerala High Court noted that rigid insistence on stock inventory, supporting purchase bills and similar records may be impractical in a vegetarian hotel where goods are perishable and purchases are made daily. On the facts, the materials relied on by the assessing and appellate authorities did not disclose intrinsic defects sufficient to discard the accounts, and the alleged excess stock and employee-based inference lacked adequate foundation. The rejection of accounts and consequential turnover estimate were therefore found unjustified, and the assessment was set aside with directions to accept the accounts and complete the assessment accordingly. en-us Fri, 15 Mar 1996 00:00:00 +0530 Mon, 11 Nov 2013 16:16:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=158948 In a hotel business, accounts should not be rejected for best judgment estimation unless the defects are substantial and materially impair reliability. The Kerala High Court noted that rigid insistence on stock inventory, supporting purchase bills and similar records may be impractical in a vegetarian hotel where goods are perishable and purchases are made daily. On the facts, the materials relied on by the assessing and appellate authorities did not disclose intrinsic defects sufficient to discard the accounts, and the alleged excess stock and employee-based inference lacked adequate foundation. The rejection of accounts and consequential turnover estimate were therefore found unjustified, and the assessment was set aside with directions to accept the accounts and complete the assessment accordingly. Case-Laws VAT and Sales Tax Fri, 15 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=158948