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Liability of Duty for unaccounted income, Central Excise |
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Liability of Duty for unaccounted income |
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CAN EXCISE / SALES TAX DEPARTMENT ASK FOR DUTY / TAX ON THE UNACCOUNTED INCOME DISCLOSED AT THE TIME OF SEARCH PROCEEDINGS U/S 132 OF INCOME TAX. AND ALSO CAN THEY RESUME / IMPOUND DOCUMENTS RELATED TO OTHER GROUP ASSOCIATES EVEN IF THEY ARE NOT REGISTERED WITH EXCISE/SALES TAX AUTHORITY AND THE PRODUCT NOT COVERED UNDER EXCISE/SALES TAX Posts / Replies Showing Replies 1 to 1 of 1 Records Page: 1
At the time of search or after receiving information from other department, excise / sales department insist the assessee to deposit duty / tax on the basis of information and estimated evasion. However, an assessee may insist upon to issue proper show cause notice before forcing him to deposit the duty / tax. All these depend upon the facts / nature / circumstances / evidence etc.
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