https://www.taxtmi.com/caselaws?id=150333 Information used to reopen an escaped-assessment proceeding must relate to the very assessment period sought to be reopened; later-period discoveries, without connecting material, cannot justify reopening an earlier year. Where that jurisdictional basis fails, a consequential penalty cannot stand. The appellate and revisional authorities may admit form IXC declarations as additional evidence when earlier non-production was due to sufficient cause or bona fide mistake, and may grant relief accordingly. In a best judgment assessment, reasonable deduction may be allowed for tax-free goods, but an estimated deduction for tax-paid goods is not permissible without supporting documentary basis. en-us Fri, 13 Jul 1973 00:00:00 +0530 Mon, 13 May 2013 14:05:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=150333 Information used to reopen an escaped-assessment proceeding must relate to the very assessment period sought to be reopened; later-period discoveries, without connecting material, cannot justify reopening an earlier year. Where that jurisdictional basis fails, a consequential penalty cannot stand. The appellate and revisional authorities may admit form IXC declarations as additional evidence when earlier non-production was due to sufficient cause or bona fide mistake, and may grant relief accordingly. In a best judgment assessment, reasonable deduction may be allowed for tax-free goods, but an estimated deduction for tax-paid goods is not permissible without supporting documentary basis. Case-Laws VAT and Sales Tax Fri, 13 Jul 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=150333