https://www.taxtmi.com/caselaws?id=164270 In a best judgment assessment based on shop inspections, mahazars and rejection of the assessee's explanation for shortage of imported raw cashewnuts, the Kerala HC noted that some guesswork is permissible if the estimate rests on a rational basis and is not perverse, arbitrary or vindictive. The assessee's bare claim that the goods were processed, roasted and sold was unsupported by documentary evidence, and the appellate authorities had already reduced the estimate on their own appraisal of the facts. Revision interference was therefore unwarranted, and the estimation of suppressed turnover was upheld. en-us Mon, 04 Aug 2008 00:00:00 +0530 Tue, 02 Dec 2014 19:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=164270 In a best judgment assessment based on shop inspections, mahazars and rejection of the assessee's explanation for shortage of imported raw cashewnuts, the Kerala HC noted that some guesswork is permissible if the estimate rests on a rational basis and is not perverse, arbitrary or vindictive. The assessee's bare claim that the goods were processed, roasted and sold was unsupported by documentary evidence, and the appellate authorities had already reduced the estimate on their own appraisal of the facts. Revision interference was therefore unwarranted, and the estimation of suppressed turnover was upheld. Case-Laws VAT and Sales Tax Mon, 04 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=164270