https://www.taxtmi.com/caselaws?id=155619 A competent taxing authority's use of a consolidated assessment instead of separate annual assessments was treated as an irregular exercise of jurisdiction, not a nullity. The remand for fresh assessment was therefore valid, and expiry of the original limitation period did not bar assessments made pursuant to remand. The text also explains that best judgment reassessments will stand where they are supported by materials such as suppressed purchases and non-production of books, and where the estimate has a rational nexus with those materials. An assessment is not vitiated merely because some guesswork is involved or because one reference to prior assessments is imperfect, provided the substance is not arbitrary or capricious. en-us Fri, 16 Jun 1989 00:00:00 +0530 Thu, 05 Sep 2013 18:10:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=155619 A competent taxing authority's use of a consolidated assessment instead of separate annual assessments was treated as an irregular exercise of jurisdiction, not a nullity. The remand for fresh assessment was therefore valid, and expiry of the original limitation period did not bar assessments made pursuant to remand. The text also explains that best judgment reassessments will stand where they are supported by materials such as suppressed purchases and non-production of books, and where the estimate has a rational nexus with those materials. An assessment is not vitiated merely because some guesswork is involved or because one reference to prior assessments is imperfect, provided the substance is not arbitrary or capricious. Case-Laws VAT and Sales Tax Fri, 16 Jun 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=155619