https://www.taxtmi.com/caselaws?id=157226 In a best judgment assessment, the quantum of turnover estimation is primarily for the final fact-finding authority, and revision lies only where the estimate is vitiated by ignoring material evidence, considering irrelevant factors, or reaching a perverse or irrational conclusion. The Tribunal examined stock variation, business locality, competition, prior assessments and surrounding circumstances, and gave reasons for rejecting the running-stock method as the sole basis. It adopted a 100 per cent addition to returned turnover as a reasonable estimate, and the revisional court found no illegality or perversity and declined interference. en-us Mon, 18 Jan 1993 00:00:00 +0530 Tue, 01 Oct 2013 18:07:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=157226 In a best judgment assessment, the quantum of turnover estimation is primarily for the final fact-finding authority, and revision lies only where the estimate is vitiated by ignoring material evidence, considering irrelevant factors, or reaching a perverse or irrational conclusion. The Tribunal examined stock variation, business locality, competition, prior assessments and surrounding circumstances, and gave reasons for rejecting the running-stock method as the sole basis. It adopted a 100 per cent addition to returned turnover as a reasonable estimate, and the revisional court found no illegality or perversity and declined interference. Case-Laws VAT and Sales Tax Mon, 18 Jan 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=157226