https://www.taxtmi.com/caselaws?id=165781 A return is incorrect for best judgment assessment when it misdescribes taxable sales or suppresses their true character, even if later turnover figures align with the books. Here, inspection and verification showed that the books and return did not disclose the true state of affairs, revised returns were filed after inspection, and the taxable turnover changed during proceedings. The Court treated the assessment as one made under section 12(3) of the Karnataka Sales Tax Act, 1957, and held that suppression and wrong exemption claims justified penalty under section 12(4). The Tribunal's contrary finding was set aside and the assessment and penalty were restored. en-us Tue, 14 Dec 2010 00:00:00 +0530 Thu, 18 Sep 2014 19:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=165781 A return is incorrect for best judgment assessment when it misdescribes taxable sales or suppresses their true character, even if later turnover figures align with the books. Here, inspection and verification showed that the books and return did not disclose the true state of affairs, revised returns were filed after inspection, and the taxable turnover changed during proceedings. The Court treated the assessment as one made under section 12(3) of the Karnataka Sales Tax Act, 1957, and held that suppression and wrong exemption claims justified penalty under section 12(4). The Tribunal's contrary finding was set aside and the assessment and penalty were restored. Case-Laws VAT and Sales Tax Tue, 14 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=165781