https://www.taxtmi.com/caselaws?id=149826 In a best judgment assessment, an estimate of suppressed turnover must bear a reasonable nexus to the material actually available and cannot be enlarged on mere guesswork. Where seized secret accounts are found to be genuine and exhaustive, and no further accounts exist, the taxing authority has no basis to make an additional arbitrary enhancement beyond that material. The Tribunal's enhanced estimate of suppression was therefore not justified and was rejected, with the questions answered against the Revenue and in favour of the assessee. en-us Tue, 10 Mar 1970 00:00:00 +0530 Sat, 04 May 2013 11:05:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=149826 In a best judgment assessment, an estimate of suppressed turnover must bear a reasonable nexus to the material actually available and cannot be enlarged on mere guesswork. Where seized secret accounts are found to be genuine and exhaustive, and no further accounts exist, the taxing authority has no basis to make an additional arbitrary enhancement beyond that material. The Tribunal's enhanced estimate of suppression was therefore not justified and was rejected, with the questions answered against the Revenue and in favour of the assessee. Case-Laws VAT and Sales Tax Tue, 10 Mar 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=149826