https://www.taxtmi.com/caselaws?id=150624 Reassessment under section 12(8) of the Orissa Sales Tax Act may proceed on a best judgment basis once books are rejected under section 12(5), and the authority is not limited to identifying the exact suppressed item or precise quantum of escapement. The estimate must, however, rest on some supporting material and cannot be capricious or arbitrary. The Tribunal erred in assuming that only specifically identified escaped turnover could be brought to tax under section 12(8), because the provision permits estimation where precise calculation is not possible. en-us Thu, 12 Apr 1973 00:00:00 +0530 Mon, 20 May 2013 15:19:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=150624 Reassessment under section 12(8) of the Orissa Sales Tax Act may proceed on a best judgment basis once books are rejected under section 12(5), and the authority is not limited to identifying the exact suppressed item or precise quantum of escapement. The estimate must, however, rest on some supporting material and cannot be capricious or arbitrary. The Tribunal erred in assuming that only specifically identified escaped turnover could be brought to tax under section 12(8), because the provision permits estimation where precise calculation is not possible. Case-Laws VAT and Sales Tax Thu, 12 Apr 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=150624