https://www.taxtmi.com/caselaws?id=22219 The High Court of Karnataka ruled in favor of the assessee, emphasizing the importance of fair and proper estimation in best judgment assessments under the Income-tax Act, 1961. The court criticized the Income-tax Officer's failure to consider turnover specifically related to sugar sales, highlighting the necessity for accurate data in assessments. The court rejected the argument that best judgment assessments should penalize defaulting assessees and stressed the need for a liberal approach in applying procedural provisions to levy tax on real income. Ultimately, the court held that the appellate authority should have considered the assessment order for a rational and fair assessment. en-us Tue, 19 Mar 1991 00:00:00 +0530 Fri, 22 May 2026 15:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22219 The High Court of Karnataka ruled in favor of the assessee, emphasizing the importance of fair and proper estimation in best judgment assessments under the Income-tax Act, 1961. The court criticized the Income-tax Officer's failure to consider turnover specifically related to sugar sales, highlighting the necessity for accurate data in assessments. The court rejected the argument that best judgment assessments should penalize defaulting assessees and stressed the need for a liberal approach in applying procedural provisions to levy tax on real income. Ultimately, the court held that the appellate authority should have considered the assessment order for a rational and fair assessment. Case-Laws Income Tax Tue, 19 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22219