Rejection of unreliable liquor-trade books justified profit estimation and separate taxation of omitted advertisement-display business receipts.

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....Rejection of liquor-trade book results is justified where proper books, stock registers, sale bills and supporting vouchers are not maintained, and declared profit is materially below comparable industry margins. Profit from liquor trading may then be estimated at 3% of stock put to use. Advertisement-display receipts earned for permitting liquor-product displays in business premises constitute business receipts and may be separately added where they were excluded from turnover used for profit estimation. The rejection of books, profit estimation and separate addition of advertisement-display receipts were sustained, and the appeal was dismissed.....