https://www.taxtmi.com/caselaws?id=461524 Books of account may be rejected where inspection reveals stock discrepancies, seized slips show unaccounted transactions, and the accounts are not up to date. In a best judgment assessment, the turnover estimate must have a reasonable nexus to the facts proved and cannot be fixed mechanically by reference to other cases. The tribunal was required to consider the nature of the business, location, period involved, and extent of suppression before fixing the addition. Rejection of the accounts was justified, but the estimate at three times the average running stock was held excessive and was modified to two times the average running stock. en-us Tue, 10 Dec 1996 00:00:00 +0530 Fri, 11 Apr 2025 18:46:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461524 Books of account may be rejected where inspection reveals stock discrepancies, seized slips show unaccounted transactions, and the accounts are not up to date. In a best judgment assessment, the turnover estimate must have a reasonable nexus to the facts proved and cannot be fixed mechanically by reference to other cases. The tribunal was required to consider the nature of the business, location, period involved, and extent of suppression before fixing the addition. Rejection of the accounts was justified, but the estimate at three times the average running stock was held excessive and was modified to two times the average running stock. Case-Laws VAT / Sales Tax Tue, 10 Dec 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461524