https://www.taxtmi.com/caselaws?id=163678 Non-maintenance of manufacturing accounts and an unexplained stock discrepancy were treated as substantive defaults, making the books of account unreliable and justifying rejection and best-judgment assessment. However, the estimated suppressed turnover could not be sustained because the record did not disclose any rational basis for fixing it at the stated figure. The rejection of accounts was therefore upheld, but the quantum of suppressed turnover was set aside and remitted for fresh determination on a reasoned basis from the material on record. en-us Tue, 09 Jan 2007 00:00:00 +0530 Mon, 07 Apr 2014 14:54:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=163678 Non-maintenance of manufacturing accounts and an unexplained stock discrepancy were treated as substantive defaults, making the books of account unreliable and justifying rejection and best-judgment assessment. However, the estimated suppressed turnover could not be sustained because the record did not disclose any rational basis for fixing it at the stated figure. The rejection of accounts was therefore upheld, but the quantum of suppressed turnover was set aside and remitted for fresh determination on a reasoned basis from the material on record. Case-Laws VAT and Sales Tax Tue, 09 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=163678