TaxTMI 
TaxTMI 
1978 (9) TMI 166
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....al for rejecting the assessee's accounts? (2) Whether the assessment of turnover is based on any material?" During the assessment year 1964-65, which is the relevant year for this reference, a survey was held on 31st December, 1964. At that survey it was found that the kachchi rokar was incomplete and had not been written up for 30th and 31st December, 1964. A difference was found in the actual a....
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....the rejection of the accounts on the ground that, during the assessment year 1964-65, the assessee had shown the sale of woollen goods in the category of stitched clothes, although that entry was corrected during the course of the year. The second ground taken was that at the time of the survey during the assessment year 1964-65, the account books of the assessee had not been written up-to-date. A....
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....has been pointed out that low profit without any other defect being found in the accounts is not a sufficient ground for rejection of accounts. However, the other reason given by the Judge (Revisions) that the accounts had not been regularly maintained, affords material for rejecting the accounts. Before accounts of an assessee can be relied upon, the assessee should show that they are regularly m....