https://www.taxtmi.com/caselaws?id=100764 Penalty under section 12 of the Madras General Sales Tax Act, 1959 was held to depend on an actual best judgment assessment. Section 12(2) applies where no return is filed or the return is incomplete or incorrect, but section 12(3) authorises penalty only when the assessment is made under section 12(2). Read together, the provisions require the assessing authority to have resorted to estimate or guesswork before penalty can be imposed. Where the disputed turnovers were taken from the assessee's own account books and not determined by best judgment, the statutory condition for penalty was absent, and penalty could not be levied. en-us Thu, 16 Sep 1971 00:00:00 +0530 Tue, 17 Sep 2013 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100764 Penalty under section 12 of the Madras General Sales Tax Act, 1959 was held to depend on an actual best judgment assessment. Section 12(2) applies where no return is filed or the return is incomplete or incorrect, but section 12(3) authorises penalty only when the assessment is made under section 12(2). Read together, the provisions require the assessing authority to have resorted to estimate or guesswork before penalty can be imposed. Where the disputed turnovers were taken from the assessee's own account books and not determined by best judgment, the statutory condition for penalty was absent, and penalty could not be levied. Case-Laws VAT and Sales Tax Thu, 16 Sep 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100764