https://www.taxtmi.com/caselaws?id=164301 Best judgment assessment must rest on an honest, non-vindictive estimate and cannot justify an added suppression amount beyond the quantified discrepancy without material showing a continuing pattern of suppression. On the facts, the Tribunal was justified in restricting the estimated suppression and equal addition to the proven stock and bill-related discrepancy, rather than sustaining the larger presumptive addition. The Tribunal's reduction of the second penalty was also upheld because the record did not show repeated suppression warranting a further penal consequence. The appeal therefore failed, with the assessee succeeding on both the addition and penalty issues. en-us Thu, 06 Aug 2009 00:00:00 +0530 Mon, 03 Nov 2014 18:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=164301 Best judgment assessment must rest on an honest, non-vindictive estimate and cannot justify an added suppression amount beyond the quantified discrepancy without material showing a continuing pattern of suppression. On the facts, the Tribunal was justified in restricting the estimated suppression and equal addition to the proven stock and bill-related discrepancy, rather than sustaining the larger presumptive addition. The Tribunal's reduction of the second penalty was also upheld because the record did not show repeated suppression warranting a further penal consequence. The appeal therefore failed, with the assessee succeeding on both the addition and penalty issues. Case-Laws VAT and Sales Tax Thu, 06 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=164301