https://www.taxtmi.com/caselaws?id=164756 The court ruled in favor of the assessee, determining that the penalty under section 12(5)(iii) of the Tamil Nadu General Sales Tax Act was not sustainable as the assessment was made to the best judgment under section 12(2) of the Act. The court emphasized that penalties under section 12(5)(iii) can only be imposed in best judgment assessments based on reasonable estimates, not guesswork. The judgment clarified the distinction between sections 12(2) and 12(4) of the Act, ultimately allowing the tax case in favor of the assessee with no costs imposed. en-us Thu, 04 Dec 2008 00:00:00 +0530 Sat, 22 Nov 2014 12:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=164756 The court ruled in favor of the assessee, determining that the penalty under section 12(5)(iii) of the Tamil Nadu General Sales Tax Act was not sustainable as the assessment was made to the best judgment under section 12(2) of the Act. The court emphasized that penalties under section 12(5)(iii) can only be imposed in best judgment assessments based on reasonable estimates, not guesswork. The judgment clarified the distinction between sections 12(2) and 12(4) of the Act, ultimately allowing the tax case in favor of the assessee with no costs imposed. Case-Laws VAT and Sales Tax Thu, 04 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=164756