https://www.taxtmi.com/caselaws?id=797426 Post-inspection revised returns do not displace an assessment for suppressed purchases and consequential sales where unaccounted stock remains unreconciled and the disclosure is incomplete. A disclosure made after detection does not establish that earlier accounting omissions were bona fide or non-wilful. Material found during inspection can support suppression findings, while a subsequent disclosure may mitigate rather than eliminate the addition. An ad hoc reduced addition may be sustained where the detected stock and incomplete disclosure provide evidentiary support, rather than mere guesswork. Unexplained stock discrepancies also establish suppressed turnover for penalty purposes, with penalty determined under the statutory framework for best-judgment assessments. en-us Tue, 14 Jul 2026 00:00:00 +0530 Sat, 22 Aug 2026 10:33:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797426 Post-inspection revised returns do not displace an assessment for suppressed purchases and consequential sales where unaccounted stock remains unreconciled and the disclosure is incomplete. A disclosure made after detection does not establish that earlier accounting omissions were bona fide or non-wilful. Material found during inspection can support suppression findings, while a subsequent disclosure may mitigate rather than eliminate the addition. An ad hoc reduced addition may be sustained where the detected stock and incomplete disclosure provide evidentiary support, rather than mere guesswork. Unexplained stock discrepancies also establish suppressed turnover for penalty purposes, with penalty determined under the statutory framework for best-judgment assessments. Case-Laws VAT / Sales Tax Tue, 14 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797426