https://www.taxtmi.com/caselaws?id=128217 Best judgment assessment is permissible where returned accounts are incorrect or incomplete and, after notice, the assessee fails to give a satisfactory explanation for the discrepancy. On the facts described, an unexplained account discrepancy and the authorities' finding that the accounts were unreliable justified invocation of section 12(3). The assessing officer was therefore entitled to proceed with best judgment assessment. The note also indicates that whether the irregularity was minor and capable of condonation was left to the assessing authority's discretion, rather than being decided by the Court. 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 is permissible where returned accounts are incorrect or incomplete and, after notice, the assessee fails to give a satisfactory explanation for the discrepancy. On the facts described, an unexplained account discrepancy and the authorities' finding that the accounts were unreliable justified invocation of section 12(3). The assessing officer was therefore entitled to proceed with best judgment assessment. The note also indicates that whether the irregularity was minor and capable of condonation was left to the assessing authority's discretion, rather than being decided by the Court. Case-Laws VAT and Sales Tax Wed, 27 Apr 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=128217