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2016 (8) TMI 669 - HC - VAT and Sales TaxDeemed sales turnover - Nature of contract receipt shown in the balance sheet - the petitioner submitted that the contract receipt shown in the balance sheet actually does not represent any contract receipts from prospective flat buyers for construction of flats and hence, such contract receipt amount shown in the balance sheet cannot be taken for the purpose of arriving deemed sales turnover liable to tax under the Act. Held that:- the respondent does not accept the deemed sales turnover as assessed by the petitioner, then the respondent should conduct an enquiry and examine the books of accounts and thereafter pass a speaking order and the respondent should not have completed the assessments as done in the instant cases. Hence, this Court is not inclined to direct the petitioner to make any further payments, as the petitioner is entitled to an opportunity. In the light of the above, the impugned orders are held to be non speaking orders and are in violation of the principles of natural justice. Writ petitions are allowed - Matter remanded back.
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