https://www.taxtmi.com/caselaws?id=127219 Where a dealer's accounts are found false, unreliable, and marked by suppression of transactions, the assessing authority may reject them and determine turnover by an honest best judgment estimate on available materials. The Court held that such estimation is a matter of factual judgment, need not rest on strict evidentiary proof, and may be guided by principles applicable to best judgment assessments under income-tax law. It further held that the assessment is not invalid merely because the precise basis of the figure is not separately disclosed, so long as relevant materials were considered and the estimate was made in good faith. en-us Tue, 08 Jan 1952 00:00:00 +0530 Tue, 05 Mar 2013 16:32:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=127219 Where a dealer's accounts are found false, unreliable, and marked by suppression of transactions, the assessing authority may reject them and determine turnover by an honest best judgment estimate on available materials. The Court held that such estimation is a matter of factual judgment, need not rest on strict evidentiary proof, and may be guided by principles applicable to best judgment assessments under income-tax law. It further held that the assessment is not invalid merely because the precise basis of the figure is not separately disclosed, so long as relevant materials were considered and the estimate was made in good faith. Case-Laws VAT and Sales Tax Tue, 08 Jan 1952 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=127219