https://www.taxtmi.com/caselaws?id=49702 An income-tax assessment made under best-judgment powers must rest on some disclosed material and not on pure guess, suspicion, or surmise. Where the taxing authority relies on private inquiries, departmental information, or comparative data, fairness requires disclosure of the substance of that material and a real opportunity for the assessee to rebut it. Relevant material produced by the assessee must also be considered. An estimate of gross profit or sales based on undisclosed material is invalid and cannot be sustained. en-us Fri, 29 Oct 1954 00:00:00 +0530 Thu, 08 May 2025 15:05:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49702 An income-tax assessment made under best-judgment powers must rest on some disclosed material and not on pure guess, suspicion, or surmise. Where the taxing authority relies on private inquiries, departmental information, or comparative data, fairness requires disclosure of the substance of that material and a real opportunity for the assessee to rebut it. Relevant material produced by the assessee must also be considered. An estimate of gross profit or sales based on undisclosed material is invalid and cannot be sustained. Case-Laws Income Tax Fri, 29 Oct 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49702