2007 (9) TMI 548

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..... ar 1998-99. The applicant was running a restaurant for the supply of foodstuff, ice cream, cold drinks and other eatables and claimed to have maintained books of account in respect of the purchases and sales and disclosed the taxable turnover at Rs. 23,55,309.44. The assessing authority after rejecting the books of account by way of best judgment assessment estimated the taxable turnover at R .....

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..... the previous years and subsequent year the turnover has been accepted which has not been considered while estimating the turnover. Therefore, the order of the Tribunal is not justified. Learned Standing Counsel submitted that the maintenance of manufacturing account under section 12(2) of the Act has been held mandatory and in the absence of the manufacturing account the books of account are liabl .....

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..... which it has been held that non-maintenance of manufacturing account is not a technical irregularity and non-maintenance of the manufacturing account leads to the rejection of books of account and the turnover has to be estimated by way of best judgment assessment. In this view of the matter, I do not find any error in the order of the Tribunal rejecting the books of account. After rejecting t .....

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