https://www.taxtmi.com/caselaws?id=163732 Books of account cannot be rejected, and suppressed sales cannot be estimated, merely because the turnover shown in the return is lower than the turnover recorded in the books when no independent defect in the accounts is found. The higher gross and net turnover reflected in the books, coupled with an accepted explanation that the return discrepancy arose from an accountant's mistake, did not support an inference of suppression. On that basis, best judgment estimation of sales was held unwarranted, and the rejection of books and estimated suppressed sales were set aside in favour of the assessee. en-us Thu, 13 Sep 2007 00:00:00 +0530 Fri, 26 Dec 2014 13:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=163732 Books of account cannot be rejected, and suppressed sales cannot be estimated, merely because the turnover shown in the return is lower than the turnover recorded in the books when no independent defect in the accounts is found. The higher gross and net turnover reflected in the books, coupled with an accepted explanation that the return discrepancy arose from an accountant's mistake, did not support an inference of suppression. On that basis, best judgment estimation of sales was held unwarranted, and the rejection of books and estimated suppressed sales were set aside in favour of the assessee. Case-Laws VAT and Sales Tax Thu, 13 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=163732