https://www.taxtmi.com/caselaws?id=150147 A dealer claiming discontinuance of business must comply with the statutory requirement to file the prescribed return up to the date of closure, and a belated plea of abandonment unsupported by contemporaneous material will not defeat a best judgment assessment. Here, the assessee had not asserted discontinuance in response to the provisional assessment notice, had not filed the closure return within time, and did not successfully challenge the finding linking the seized slips to the business. The court therefore upheld the best judgment assessment and consequential penalty, and dismissed the writ petition. en-us Fri, 19 Feb 1971 00:00:00 +0530 Thu, 09 May 2013 14:04:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=150147 A dealer claiming discontinuance of business must comply with the statutory requirement to file the prescribed return up to the date of closure, and a belated plea of abandonment unsupported by contemporaneous material will not defeat a best judgment assessment. Here, the assessee had not asserted discontinuance in response to the provisional assessment notice, had not filed the closure return within time, and did not successfully challenge the finding linking the seized slips to the business. The court therefore upheld the best judgment assessment and consequential penalty, and dismissed the writ petition. Case-Laws VAT and Sales Tax Fri, 19 Feb 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=150147