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2014 (1) TMI 1053 - ALLAHABAD HIGH COURTRejection of books of accounts - Discrepancy in stock and accounts - Best judgement assessment - Held that:- purchases were shown to have been made by firms at Ghaziabad and Noida but the said firms were found closed when subsequent queries were made and the notices were issued to them. The transaction of payment through bank account is also not in the ordinary course of business inasmuch as the firms claiming their addresses at Noida and Ghaziabad, opened their accounts at Aligarh, collected cheque money and withdrawn the same in quick succession of two to three days and that too in cash. Thirdly the alleged transport companies whereby huge quantity of oil and tin containers were claimed to have been transported from Ghaziabad and Noida to Aligarh, were found non-existing and bogus - In totality, when various circumstances are considered by Revenue, I do not find that the approach can be said to be illegal or erroneous so as to make a best judgment assessment in the circumstances like present one illegal or unauthorized - Decided against assessee.
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