https://www.taxtmi.com/caselaws?id=389174 The High Court allowed the revision, ruling in favor of the assessee and against the revenue. The rejection of account books based on low production yield and industrial accident was deemed unjustified, especially when the assessee provided reasonable explanations. The Court highlighted the lack of substantial evidence to doubt the correctness of the account books, considering the documented industrial accident and factory closure. The Tribunal's decision to reject the account books and presume sale of raw material solely on the basis of low production yield was found contradictory and not supported by concrete evidence. en-us Wed, 06 Nov 2019 00:00:00 +0530 Mon, 02 Dec 2019 18:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389174 The High Court allowed the revision, ruling in favor of the assessee and against the revenue. The rejection of account books based on low production yield and industrial accident was deemed unjustified, especially when the assessee provided reasonable explanations. The Court highlighted the lack of substantial evidence to doubt the correctness of the account books, considering the documented industrial accident and factory closure. The Tribunal's decision to reject the account books and presume sale of raw material solely on the basis of low production yield was found contradictory and not supported by concrete evidence. Case-Laws VAT and Sales Tax Wed, 06 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389174