https://www.taxtmi.com/caselaws?id=164923 Rejection of books of account was upheld where survey revealed a shortage of raw-material stock compared with the records, the proprietor was present, no explanation was given at the time, and the later claim that the goods were stored elsewhere was rejected. On that basis, estimation of suppressed turnover of manufactured tobacco and related purchases from unregistered dealers was treated as having a reasonable foundation. However, the tax rate applied to chemicals was corrected: the notification dated 25.2.2003 prescribed 4% for all kinds of chemicals, so a levy at 32.5% was inconsistent with the notification and could not stand. en-us Mon, 24 Jan 2011 00:00:00 +0530 Wed, 17 Sep 2014 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=164923 Rejection of books of account was upheld where survey revealed a shortage of raw-material stock compared with the records, the proprietor was present, no explanation was given at the time, and the later claim that the goods were stored elsewhere was rejected. On that basis, estimation of suppressed turnover of manufactured tobacco and related purchases from unregistered dealers was treated as having a reasonable foundation. However, the tax rate applied to chemicals was corrected: the notification dated 25.2.2003 prescribed 4% for all kinds of chemicals, so a levy at 32.5% was inconsistent with the notification and could not stand. Case-Laws VAT and Sales Tax Mon, 24 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=164923