1978 (5) TMI 116

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.... opinion is whether on the facts and circumstances of this case the accounts books of the assessee were validly rejected. From the order passed by the revising authority it appears that the accounts books of the assessee were rejected because the sales were written by the assessee after counting the till, separate cash memos were not issued in respect of retail sales and there was a difference in ....

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....t at the end of the day passed a consolidated cash memo for all the petty sales. From this no adverse inference against the veracity of the accounts maintained by the assessee could be drawn. Apparently the assessee adopted this procedure in order to tally the sales of the whole day with his books of account. The passing of a consolidated cash memo for all the petty sales of the day could not help....