https://www.taxtmi.com/caselaws?id=151132 Taxable liability arose when the purchase transactions occurred, so a later exemption notification could not apply to earlier completed purchases absent express retrospective effect; the exemption was therefore unavailable. The assessing authority was also justified in rejecting unreliable accounts where no gum consumption records were kept, and a best judgment estimate of consumption was upheld because the estimate was supported by comparable material and was not arbitrary. en-us Tue, 02 Dec 1975 00:00:00 +0530 Thu, 30 May 2013 17:12:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151132 Taxable liability arose when the purchase transactions occurred, so a later exemption notification could not apply to earlier completed purchases absent express retrospective effect; the exemption was therefore unavailable. The assessing authority was also justified in rejecting unreliable accounts where no gum consumption records were kept, and a best judgment estimate of consumption was upheld because the estimate was supported by comparable material and was not arbitrary. Case-Laws VAT and Sales Tax Tue, 02 Dec 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151132