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2013 (2) TMI 656 - PUNJAB AND HARYANA HIGH COURTBest judgment assessment - whether assessment could be resorted to only after the rejection of books of accounts that too during the course of assessment proceedings? - Held that:- No merit in the present appeal as after framing of the assessment, the information came to the notice of the Assessing Authority that the appellant has not reflected certain sales in the return submitted by it. The Assessing Authority found that not only the appellant has purchased iron and steel from different dealers, which are not reflected in the accounts, but also the sales were also not reflected. Therefore, the Assessing Authority proceeded to frame the best judgment assessment. Once the sales are proved to be outside the said books of accounts, a fact not disputed by the appellant, the rejection of the books of accounts is necessary consequence. The Assessing Authority was able to find out the undisclosed sales in the account books for one month but such could be practice in the other months of the year as well. It cannot be said that the assessee has made purchases and sales outside the books of account only for the one month.
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