https://www.taxtmi.com/caselaws?id=462639 A voluntary sworn statement admitting stock discrepancy was treated as binding where inspection records showed no day-to-day stock accounts or serially numbered bills and the later explanation of stock transfer from a sister concern was found to be an afterthought supported by interpolated records. The court applied the principle that a party cannot approbate and reprobate, rejecting the attempted retraction in the absence of proved suspicious circumstances at the time of the statement. The assessment order was therefore restored in favour of the Revenue. en-us Mon, 23 Sep 2024 00:00:00 +0530 Sat, 05 Jul 2025 19:51:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462639 A voluntary sworn statement admitting stock discrepancy was treated as binding where inspection records showed no day-to-day stock accounts or serially numbered bills and the later explanation of stock transfer from a sister concern was found to be an afterthought supported by interpolated records. The court applied the principle that a party cannot approbate and reprobate, rejecting the attempted retraction in the absence of proved suspicious circumstances at the time of the statement. The assessment order was therefore restored in favour of the Revenue. Case-Laws VAT / Sales Tax Mon, 23 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462639