https://www.taxtmi.com/caselaws?id=149975 Best judgment assessment was upheld because the dealer had not maintained proper accounts and the estimate had a reasonable nexus with inspection material, admissions and surrounding circumstances, rather than being mere guesswork. Penalty for deliberate concealment of turnover and false returns under section 43(1) was sustained because the record showed undisclosed sales and knowingly false returns. Penalty under section 27(2) was quashed for 1963-64 because the statutory turnover threshold was not shown to have been met, but it was sustained for 1964-65, including for non-maintenance of counterfoils in bulk supply transactions. Penalty under section 17(3) was set aside because late filing is not the same as failure to furnish a return. en-us Fri, 20 Nov 1970 00:00:00 +0530 Tue, 07 May 2013 13:55:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=149975 Best judgment assessment was upheld because the dealer had not maintained proper accounts and the estimate had a reasonable nexus with inspection material, admissions and surrounding circumstances, rather than being mere guesswork. Penalty for deliberate concealment of turnover and false returns under section 43(1) was sustained because the record showed undisclosed sales and knowingly false returns. Penalty under section 27(2) was quashed for 1963-64 because the statutory turnover threshold was not shown to have been met, but it was sustained for 1964-65, including for non-maintenance of counterfoils in bulk supply transactions. Penalty under section 17(3) was set aside because late filing is not the same as failure to furnish a return. Case-Laws VAT and Sales Tax Fri, 20 Nov 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=149975