https://www.taxtmi.com/caselaws?id=163071 Non-maintenance of a mandatory manufacturing account under section 12(2) justified rejection of the books of account because the defect was treated as substantive, not merely technical, and the absence of supporting purchase details reinforced that result. After rejection, however, any best judgment estimate of taxable turnover had to rest on relevant material and recorded reasons. An estimate made without disclosing the basis for the figure adopted, and without considering the previous year's turnover, was held unsustainable. The books rejection was upheld, but the turnover estimate was set aside and remanded for fresh determination on a reasoned, material-based basis. en-us Wed, 26 Sep 2007 00:00:00 +0530 Fri, 21 Mar 2014 11:47:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=163071 Non-maintenance of a mandatory manufacturing account under section 12(2) justified rejection of the books of account because the defect was treated as substantive, not merely technical, and the absence of supporting purchase details reinforced that result. After rejection, however, any best judgment estimate of taxable turnover had to rest on relevant material and recorded reasons. An estimate made without disclosing the basis for the figure adopted, and without considering the previous year's turnover, was held unsustainable. The books rejection was upheld, but the turnover estimate was set aside and remanded for fresh determination on a reasoned, material-based basis. Case-Laws VAT and Sales Tax Wed, 26 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=163071