2008 (9) TMI 894

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....uestioning the correctness of the order of the Tribunal in deleting the penalty under section 12(3)(b) of the Tamil Nadu General Sales Tax Act, 1959. We have heard the argument of the learned Government Advocate appearing for the revision petitioner. We are of the view that issue is squarely covered by the decision of this court in W.P. No. 23274 of 2002 dated October 26, 2007 (Krishna Alloy....

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....rrect return has been filed. The High Court was of the view that it is only if the assessment has to be made to the best of the judgment of the assessing authority that penalty can be levied. It seems to us that the High Court came to the correct conclusion because sub-sections (2) and (3) have to be read together. Sub-section (2) empowers the assessing authority to assess the dealer to the best o....

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....nces of each case: [see State of Kerala v. C. Velukutty [1966] 17 STC 465 (SC)]. Where account books are accepted along with other records there can be no ground for making a best judgment assessment'. 6.. The law so declared that the best judgment assessment is based on an estimate and is not one based solely on the account books was reiterated by the Supreme Court in the case of Commissio....