https://www.taxtmi.com/caselaws?id=163642 The High Court overturned the Tribunal's decision to refix the sale price of arrack at Rs. 255 per litre, restoring the first appellate authority's decision. The Court emphasized the importance of considering relevant data, maintaining proper books of account, and adopting a rational basis for estimating unaccounted sales turnover of arrack. The Tribunal's failure to justify its decisions and consider essential materials led to the cancellation of its order. The Court upheld the Department's use of market price as a rational basis for estimating unaccounted sales, highlighting the need for correlation with actual quantities and market prices. en-us Tue, 17 Oct 2006 00:00:00 +0530 Sat, 05 Apr 2014 17:53:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=163642 The High Court overturned the Tribunal's decision to refix the sale price of arrack at Rs. 255 per litre, restoring the first appellate authority's decision. The Court emphasized the importance of considering relevant data, maintaining proper books of account, and adopting a rational basis for estimating unaccounted sales turnover of arrack. The Tribunal's failure to justify its decisions and consider essential materials led to the cancellation of its order. The Court upheld the Department's use of market price as a rational basis for estimating unaccounted sales, highlighting the need for correlation with actual quantities and market prices. Case-Laws VAT and Sales Tax Tue, 17 Oct 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=163642