https://www.taxtmi.com/caselaws?id=160132 The Court held that initiating suo motu revisional proceedings by the authority was valid. The revising authority's determination of taxable turnover based on establishment expenses was deemed legal. The Court emphasized the importance of evidence and a reasonable nexus to available material for best judgment assessment. A fresh assessment was directed, disregarding past figures and formulas, to ensure compliance with principles of natural justice and accuracy in turnover estimation. The Court highlighted the assessing authority's duty to gather relevant information before framing assessments. en-us Thu, 23 Sep 1999 00:00:00 +0530 Tue, 10 Dec 2013 15:35:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=160132 The Court held that initiating suo motu revisional proceedings by the authority was valid. The revising authority's determination of taxable turnover based on establishment expenses was deemed legal. The Court emphasized the importance of evidence and a reasonable nexus to available material for best judgment assessment. A fresh assessment was directed, disregarding past figures and formulas, to ensure compliance with principles of natural justice and accuracy in turnover estimation. The Court highlighted the assessing authority's duty to gather relevant information before framing assessments. Case-Laws VAT and Sales Tax Thu, 23 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=160132