https://www.taxtmi.com/caselaws?id=329279 A best judgment assessment enhancing declared turnover by 10% could not stand where it rested only on non-production of branch certificates and there was no material showing suppression of turnover or any rational basis for estimation. The court noted that the assessee's contention that branch transactions were already reflected in the main office accounts had not been properly addressed. The connected penalty under Section 72 of the Karnataka Value Added Tax Act, 2003 also lacked a proper factual foundation. The assessment orders were set aside and the matter was remitted for fresh adjudication in accordance with law. en-us Thu, 10 Mar 2016 00:00:00 +0530 Mon, 27 Jun 2016 07:26:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329279 A best judgment assessment enhancing declared turnover by 10% could not stand where it rested only on non-production of branch certificates and there was no material showing suppression of turnover or any rational basis for estimation. The court noted that the assessee's contention that branch transactions were already reflected in the main office accounts had not been properly addressed. The connected penalty under Section 72 of the Karnataka Value Added Tax Act, 2003 also lacked a proper factual foundation. The assessment orders were set aside and the matter was remitted for fresh adjudication in accordance with law. Case-Laws VAT and Sales Tax Thu, 10 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329279