https://www.taxtmi.com/caselaws?id=153005 A best judgment assessment of groundnut oil turnover was held unsustainable where the assessing authority adopted a turnover formula without supporting material. The authority assumed that groundnut oil sales were 3.5 times oil-cake sales solely because of price differences, but there was no evidence of the actual production ratio from crushing groundnuts and no finding that oil and oil-cakes were produced in equal quantity. In the absence of a factual foundation, the method of computation lacked a rational basis and was arbitrary, so the assessment was quashed. en-us Fri, 24 Oct 1980 00:00:00 +0530 Mon, 15 Jul 2013 16:49:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=153005 A best judgment assessment of groundnut oil turnover was held unsustainable where the assessing authority adopted a turnover formula without supporting material. The authority assumed that groundnut oil sales were 3.5 times oil-cake sales solely because of price differences, but there was no evidence of the actual production ratio from crushing groundnuts and no finding that oil and oil-cakes were produced in equal quantity. In the absence of a factual foundation, the method of computation lacked a rational basis and was arbitrary, so the assessment was quashed. Case-Laws VAT and Sales Tax Fri, 24 Oct 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=153005