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Issues: Whether deposits of quarterly instalments and Treasury Challans could substitute for the statutory return and amount to an election of the assessment year, and whether the Sales Tax Officer was entitled to make a best judgment assessment when the return was filed beyond time.
Analysis: The assessee had not filed any return of total turnover within the prescribed time and had not intimated any election of the assessment year. The deposits made in the Treasury were not treated as a substitute for the return required by the proviso to Section 7 and Rule 39 of Chapter VIII. In these circumstances, the Sales Tax Officer was justified in proceeding under Section 7(3) and making the assessment on best judgment. The application for reference was therefore not maintainable on the facts found.
Conclusion: The questions were answered against the assessee, and the application for reference was rightly rejected.
Final Conclusion: Non-filing of the statutory return within time, without a valid election of the assessment year, attracted assessment under the best judgment provision and defeated the request for reference.
Ratio Decidendi: Treasury deposits do not replace the statutory obligation to file a return within time, and where that obligation is not complied with, a best judgment assessment under the relevant taxing provision is valid.
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