Section 48(3) in The M.P. Vanijyik Kar Niyam, 1995
(3)In making an assessment to the best of his judgement under sub-section (5) or sub-section (7) of Section 27 the assessing authority shall, as far as practicable, have due regard to the extent of the business carried on by the dealer, the surrounding circumstances and all other matters which may be of assistance in arriving at a fair and proper estimate of the taxable turnover of the dealer.
