https://www.taxtmi.com/caselaws?id=288673 An assessing officer applied assumed oil and oil cake yield percentages and a 2% refraction allowance without producing scientific tests, contemporaneous records, or proof of comparable seed quality or machinery; such additions based on conjecture and unsupported reliance on prior assessments cannot stand and were set aside, the assessee succeeding and awarded costs. The governing principle is that findings resting on assumed percentages require evidential support on the record; absence of such material vitiates the additions. en-us Tue, 23 Jan 1962 00:00:00 +0530 Mon, 22 Jun 2020 17:14:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288673 An assessing officer applied assumed oil and oil cake yield percentages and a 2% refraction allowance without producing scientific tests, contemporaneous records, or proof of comparable seed quality or machinery; such additions based on conjecture and unsupported reliance on prior assessments cannot stand and were set aside, the assessee succeeding and awarded costs. The governing principle is that findings resting on assumed percentages require evidential support on the record; absence of such material vitiates the additions. Case-Laws Income Tax Tue, 23 Jan 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288673