https://www.taxtmi.com/caselaws?id=446877 Rejection of books of account based on survey material did not, by itself, justify enhancement of turnover on best judgment assessment. The HC held that estimated undisclosed purchases and sales must rest on cogent material and a rational basis, not on surmises or conjecture. Because the loose papers were explained, no substantial reason supported the turnover increase, and the record did not show business activity beyond disclosed trading, the proposed enhancement for the full year was rejected and the taxable turnover was accepted in favour of the assessee. en-us Mon, 20 Nov 2023 00:00:00 +0530 Wed, 13 Dec 2023 20:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446877 Rejection of books of account based on survey material did not, by itself, justify enhancement of turnover on best judgment assessment. The HC held that estimated undisclosed purchases and sales must rest on cogent material and a rational basis, not on surmises or conjecture. Because the loose papers were explained, no substantial reason supported the turnover increase, and the record did not show business activity beyond disclosed trading, the proposed enhancement for the full year was rejected and the taxable turnover was accepted in favour of the assessee. Case-Laws VAT and Sales Tax Mon, 20 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446877