https://www.taxtmi.com/caselaws?id=128217 Best judgment assessment may be invoked where returned accounts are incorrect or incomplete and, after notice, the assessee fails to produce evidence or satisfactorily explain discrepancies. An unexplained accounting discrepancy permitted the assessing authority to treat the accounts as unreliable and proceed under section 12(3). Whether an irregularity is minor and capable of condonation falls within the assessing authority's discretion. The stated legal position supports the validity of a best judgment assessment in these circumstances. en-us Wed, 27 Apr 1960 00:00:00 +0530 Sat, 30 Mar 2013 11:03:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=128217 Best judgment assessment may be invoked where returned accounts are incorrect or incomplete and, after notice, the assessee fails to produce evidence or satisfactorily explain discrepancies. An unexplained accounting discrepancy permitted the assessing authority to treat the accounts as unreliable and proceed under section 12(3). Whether an irregularity is minor and capable of condonation falls within the assessing authority's discretion. The stated legal position supports the validity of a best judgment assessment in these circumstances. Case-Laws VAT and Sales Tax Wed, 27 Apr 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=128217