https://www.taxtmi.com/caselaws?id=247645 A best judgment turnover estimate based on alleged loss of Form XX and non-intimation under Rule 37(2) was unsustainable because the missing declaration forms were not shown to have been misused, and there was no clinching material linking them to actual sales or suppression of turnover. The assessee's explanation of change of management and misplaced records remained unrebutted by reliable evidence. In the absence of proof of misuse, revenue loss, or a rational nexus between the defect and the estimate, the assessment could not rest on conjecture or arbitrariness. The Tribunal's order in favour of the assessee was left undisturbed and the Revenue's revision was dismissed. en-us Thu, 04 Aug 2011 00:00:00 +0530 Mon, 22 Sep 2014 10:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247645 A best judgment turnover estimate based on alleged loss of Form XX and non-intimation under Rule 37(2) was unsustainable because the missing declaration forms were not shown to have been misused, and there was no clinching material linking them to actual sales or suppression of turnover. The assessee's explanation of change of management and misplaced records remained unrebutted by reliable evidence. In the absence of proof of misuse, revenue loss, or a rational nexus between the defect and the estimate, the assessment could not rest on conjecture or arbitrariness. The Tribunal's order in favour of the assessee was left undisturbed and the Revenue's revision was dismissed. Case-Laws VAT and Sales Tax Thu, 04 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247645