https://www.taxtmi.com/caselaws?id=175642 A low disclosed selling rate, without further inquiry from purchasers or other material discrediting the cash memos, does not by itself justify rejection of the books of account. Suspicion arising from the rate alone was insufficient to find any defect in the accounts, so the assessing authority could not reject the book version or proceed to estimate the average selling rate per truck. The High Court therefore held the rejection of the books unwarranted and the turnover estimate unjustified, in favour of the assessee. en-us Thu, 19 Feb 1987 00:00:00 +0530 Mon, 30 Nov 2015 17:01:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175642 A low disclosed selling rate, without further inquiry from purchasers or other material discrediting the cash memos, does not by itself justify rejection of the books of account. Suspicion arising from the rate alone was insufficient to find any defect in the accounts, so the assessing authority could not reject the book version or proceed to estimate the average selling rate per truck. The High Court therefore held the rejection of the books unwarranted and the turnover estimate unjustified, in favour of the assessee. Case-Laws VAT and Sales Tax Thu, 19 Feb 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175642