https://www.taxtmi.com/caselaws?id=278509 Best judgment assessment must rest on an independent evaluation of the books, returns and sales materials; mere reliance on an intelligence report or a stray high-profit instance is insufficient where the core gross profit issue requires fresh scrutiny. The 2008-09 assessment was therefore set aside and remanded for de novo consideration. For compounding under Section 7(b), the expression covering the highest turnover tax paid for the previous three years is wide enough to include tax finally assessed in completed proceedings, including amounts altered in appeal or revision. The later compounding base was thus held to include assessed tax, favouring the Revenue. en-us Thu, 05 Jul 2012 00:00:00 +0530 Mon, 24 Jul 2023 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278509 Best judgment assessment must rest on an independent evaluation of the books, returns and sales materials; mere reliance on an intelligence report or a stray high-profit instance is insufficient where the core gross profit issue requires fresh scrutiny. The 2008-09 assessment was therefore set aside and remanded for de novo consideration. For compounding under Section 7(b), the expression covering the highest turnover tax paid for the previous three years is wide enough to include tax finally assessed in completed proceedings, including amounts altered in appeal or revision. The later compounding base was thus held to include assessed tax, favouring the Revenue. Case-Laws Indian Laws Thu, 05 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278509