https://www.taxtmi.com/caselaws?id=154331 In a best judgment assessment, turnover may be estimated after rejection of accounts, but the estimate must rest on relevant material and bear a reasonable nexus to the disclosed suppression and surrounding circumstances. An assessment founded on mere guesswork, caprice, or arbitrariness is not sustainable. On the facts noted, the turnover enhancement was found to lack a rational basis and adequate supporting material, and the Tribunal's reduction did not cure that defect. The enhancement was therefore treated as arbitrary and unsupported by the record, with the issue answered in favour of the assessee. en-us Fri, 06 Jan 1984 00:00:00 +0530 Sat, 17 Aug 2013 14:30:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=154331 In a best judgment assessment, turnover may be estimated after rejection of accounts, but the estimate must rest on relevant material and bear a reasonable nexus to the disclosed suppression and surrounding circumstances. An assessment founded on mere guesswork, caprice, or arbitrariness is not sustainable. On the facts noted, the turnover enhancement was found to lack a rational basis and adequate supporting material, and the Tribunal's reduction did not cure that defect. The enhancement was therefore treated as arbitrary and unsupported by the record, with the issue answered in favour of the assessee. Case-Laws VAT and Sales Tax Fri, 06 Jan 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=154331