https://www.taxtmi.com/caselaws?id=162635 Where concealment of turnover is alleged, an estimated assessment must rest on evidence with a reasonable nexus to proven transactions, and a rebuttable statutory presumption cannot by itself justify a higher tax liability. The Tribunal accepted the only proven figure arising from the seized and auctioned liquor, found no material showing wider clandestine dealings during the year, and therefore fixed taxable turnover at Rs. 50,000. The Revenue's attempt to enhance the estimate failed because it did not establish any broader undisclosed business beyond the disclosed material. en-us Thu, 07 Sep 2006 00:00:00 +0530 Tue, 11 Mar 2014 18:26:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=162635 Where concealment of turnover is alleged, an estimated assessment must rest on evidence with a reasonable nexus to proven transactions, and a rebuttable statutory presumption cannot by itself justify a higher tax liability. The Tribunal accepted the only proven figure arising from the seized and auctioned liquor, found no material showing wider clandestine dealings during the year, and therefore fixed taxable turnover at Rs. 50,000. The Revenue's attempt to enhance the estimate failed because it did not establish any broader undisclosed business beyond the disclosed material. Case-Laws VAT and Sales Tax Thu, 07 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=162635