https://www.taxtmi.com/caselaws?id=128520 Best judgment turnover assessment under section 12(2)(b) requires the assessing authority to apply its own mind to the facts of the individual case, base the estimate on material, and give reasons; a rigid formula from another case cannot replace that statutory duty. The mechanical use of a five-times-working-expenses rule was therefore impermissible. Where the hotel accounts were found to be properly kept and sales were fully recorded, the declared turnover could not be displaced merely because purchase records were defective. The assessments had to be confined to the turnovers shown in the returns, with excess tax liable to refund if already paid. en-us Fri, 23 Mar 1962 00:00:00 +0530 Sat, 27 Jul 2013 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=128520 Best judgment turnover assessment under section 12(2)(b) requires the assessing authority to apply its own mind to the facts of the individual case, base the estimate on material, and give reasons; a rigid formula from another case cannot replace that statutory duty. The mechanical use of a five-times-working-expenses rule was therefore impermissible. Where the hotel accounts were found to be properly kept and sales were fully recorded, the declared turnover could not be displaced merely because purchase records were defective. The assessments had to be confined to the turnovers shown in the returns, with excess tax liable to refund if already paid. Case-Laws VAT and Sales Tax Fri, 23 Mar 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=128520