https://www.taxtmi.com/caselaws?id=339230 The court ruled in favor of the appellant, holding that the rejection of the Books of Account for the assessment year 2005-2006 was unjustified. The court emphasized that mere disparity in turnover, transportation losses, loading discrepancies, or selling goods below market rate are not sufficient grounds to discard accounts without concrete evidence. The judgment stressed the importance of adhering to legal principles and requiring substantiated proof before imposing higher tax liabilities. The court directed a fresh assessment, highlighting the necessity for authorities to base decisions on solid evidence in tax assessments. en-us Mon, 20 Feb 2017 00:00:00 +0530 Thu, 22 Mar 2018 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339230 The court ruled in favor of the appellant, holding that the rejection of the Books of Account for the assessment year 2005-2006 was unjustified. The court emphasized that mere disparity in turnover, transportation losses, loading discrepancies, or selling goods below market rate are not sufficient grounds to discard accounts without concrete evidence. The judgment stressed the importance of adhering to legal principles and requiring substantiated proof before imposing higher tax liabilities. The court directed a fresh assessment, highlighting the necessity for authorities to base decisions on solid evidence in tax assessments. Case-Laws VAT and Sales Tax Mon, 20 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339230