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2009 (3) TMI 953 - HC - VAT and Sales TaxAcceptance of books of account for sales tax assessments challenged - Held that:- Agreeing with the contention of the assessee that if the transactions can be co-related from the seized records and if it is proved that entire business carried on in the clandestine manner are covered by entries in the seized records, then there is no scope for further addition. However, it is for the assessee to establish and co-relate entries in the business slips, bill books, note books, purchase bills, sales bills, etc., and in the absence of any co-relation it is for the officer to reject books of accounts as incomplete and estimate turnover based on relevant materials. Therefore set aside the orders of the Tribunal and that of the first appellate authority and remand the matter back to the assessing officer for giving opportunity to produce the books including the seized records if released to the assessee and to make fresh assessment based on the above observations. However, since the assessee has closed the business and since the Department has not filed second appeal against the orders of the first appellate authority we give an option to the assessee to accept the first appellate authority's order and on the assessee's acceptance the assessing officer shall complete the assessment by making an addition equal to the turnover in terms of the first appellate authority's order.
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