https://www.taxtmi.com/caselaws?id=156669 Best judgment assessment under section 12(2) of the Tamil Nadu General Sales Tax Act, 1959 requires a recorded finding that the return is incomplete or incorrect, after enquiry and opportunity to the dealer, and the accounts must be lawfully displaced before resorting to estimate-based addition. Mere absence of separate stock accounts or low gross profit, without findings of inflated purchases, suppressed sales, wrong classification, or other unexplained transactions, is insufficient to justify rejection of the return or sustain an addition on guesswork. The assessment orders were set aside and the matter was remanded for fresh assessment after giving the assessees an opportunity to explain the alleged defects. en-us Mon, 08 Jul 1991 00:00:00 +0530 Mon, 23 Sep 2013 15:17:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=156669 Best judgment assessment under section 12(2) of the Tamil Nadu General Sales Tax Act, 1959 requires a recorded finding that the return is incomplete or incorrect, after enquiry and opportunity to the dealer, and the accounts must be lawfully displaced before resorting to estimate-based addition. Mere absence of separate stock accounts or low gross profit, without findings of inflated purchases, suppressed sales, wrong classification, or other unexplained transactions, is insufficient to justify rejection of the return or sustain an addition on guesswork. The assessment orders were set aside and the matter was remanded for fresh assessment after giving the assessees an opportunity to explain the alleged defects. Case-Laws VAT and Sales Tax Mon, 08 Jul 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=156669