Supreme Court allows tax penalty for poor record-keeping when documentary evidence exists, rejecting reliance on estimation methods.

The Supreme Court allowed the taxpayer's appeal, overturning the lower court's decision to apply a tax penalty based on estimated income. The tax authorities had imposed a fine because the taxpayer failed to properly record sales of scrap metal, relying on documents rather than estimation methods. The court ruled that the statutory penalty applies even when documentary evidence exists, rejecting the lower court's error in applying estimation rules unnecessarily.