https://www.taxtmi.com/caselaws?id=164877 Addition based on slips recovered during inspection may be sustained where the entries disclose business transactions and the assessee fails to produce evidence that they were private or unrelated to turnover. An equal addition towards probable omission cannot stand without supporting material or a reasoned basis, and it must be deleted when the record discloses no justification. Penalty under section 12(3) requires proof of wilful suppression to evade tax; where such suppression is not established and the explanation is rejected without reasons, the penalty is not leviable. The turnover addition was maintained, while the equal addition and penalty were deleted. en-us Wed, 06 Jan 2010 00:00:00 +0530 Sat, 18 Oct 2014 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=164877 Addition based on slips recovered during inspection may be sustained where the entries disclose business transactions and the assessee fails to produce evidence that they were private or unrelated to turnover. An equal addition towards probable omission cannot stand without supporting material or a reasoned basis, and it must be deleted when the record discloses no justification. Penalty under section 12(3) requires proof of wilful suppression to evade tax; where such suppression is not established and the explanation is rejected without reasons, the penalty is not leviable. The turnover addition was maintained, while the equal addition and penalty were deleted. Case-Laws VAT and Sales Tax Wed, 06 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=164877