https://www.taxtmi.com/caselaws?id=158982 Best judgment assessment requires turnover estimates to rest on cogent material and rational considerations, not conjecture or extrapolation from a brief sales survey. For perishable consumable goods, sales patterns must be assessed against market realities, and past assessment history remains a relevant factor in fixing a reasonable figure. Applying these principles, the Tribunal's turnover estimate was found arbitrary because no adequate basis was shown for fixing turnover at more than double the immediately preceding accepted figure. The matter was remanded for fresh determination after giving the assessee an opportunity to place relevant material on record, and the request for enhancement was rejected. en-us Thu, 06 Jul 1995 00:00:00 +0530 Tue, 12 Nov 2013 14:59:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=158982 Best judgment assessment requires turnover estimates to rest on cogent material and rational considerations, not conjecture or extrapolation from a brief sales survey. For perishable consumable goods, sales patterns must be assessed against market realities, and past assessment history remains a relevant factor in fixing a reasonable figure. Applying these principles, the Tribunal's turnover estimate was found arbitrary because no adequate basis was shown for fixing turnover at more than double the immediately preceding accepted figure. The matter was remanded for fresh determination after giving the assessee an opportunity to place relevant material on record, and the request for enhancement was rejected. Case-Laws VAT and Sales Tax Thu, 06 Jul 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=158982