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2018 (2) TMI 675 - HC - Income TaxReopening of assessment - unaccounted sales - sales of manufactured goods to specific party was found bogus - eligibility of reasons to believe - Held that:- From the statement of the Director, it can be culled out that the finished goods manufactured by the assessee stated to have been sold to M/s H K Impex Pvt. Ltd would first reach the premises of M/s. H. K Impex Pvt. Ltd., Umbergaon from where under the instructions of the recipient the same would be diverted to Vasai or Bhayandar without disclosure to the Excise Authorities. This later portion of the movement of the goods may be unauthorized and may have either Central Excise or the Sales Tax evasion angle. Nevertheless, this factum would not establish that there was no sale of the goods made by the assessee, as claimed in the reasons recorded. At any rate, no such fact emerges from the statement of the Director of the company contrary to what the reasons record. - Decided against assessee.
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