https://www.taxtmi.com/caselaws?id=150530 Defects in the assessee's accounts justified a turnover addition, but the Tribunal's reduction of that addition was treated as a factual estimate based on the surrounding circumstances and was not disturbed for want of legal error. In relation to penalty, a return found to be incorrect and a best judgment assessment were held sufficient to attract section 12(3) of the Madras General Sales Tax Act, without requiring a separate finding of wilful suppression. The penalty order was therefore restored, while the modified assessment was sustained. The result was partial success for the Revenue. en-us Wed, 27 Jun 1973 00:00:00 +0530 Sat, 18 May 2013 12:43:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=150530 Defects in the assessee's accounts justified a turnover addition, but the Tribunal's reduction of that addition was treated as a factual estimate based on the surrounding circumstances and was not disturbed for want of legal error. In relation to penalty, a return found to be incorrect and a best judgment assessment were held sufficient to attract section 12(3) of the Madras General Sales Tax Act, without requiring a separate finding of wilful suppression. The penalty order was therefore restored, while the modified assessment was sustained. The result was partial success for the Revenue. Case-Laws VAT and Sales Tax Wed, 27 Jun 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=150530