TMI Blog2023 (4) TMI 318X X X X Extracts X X X X X X X X Extracts X X X X ..... n to deny the petitioner the substantive benefit of deduction of the amounts from the taxable turnover for the year. Matter remanded back to the assessing authority for passing a fresh assessment order, taking into consideration the documents now produced by the petitioner before the assessing authority, and which were found as acceptable by the assessing authority, for the limited purposes of passing a revised assessment order. - OT.REV NO. 8 OF 2023 - - - Dated:- 4-4-2023 - HONOURABLE MR. JUSTICE A.K. JAYASANKARAN NAMBIAR AND HONOURABLE MR. JUSTICE MOHAMMED NIAS C.P. For the Appellant : By Advs. Harisankar v. Menon Meera V. Menon R. Sreejith K. Krishna For the Respondent : By Smt. M.M. Jasmine, GP O R D E R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fore the Appellate Tribunal, the same also came to be dismissed. 4. When this revision petition came up for admission before us, taking note of the submission of the learned counsel for the petitioner that he had records to demonstrate that the deduction claimed in the value of closing stock actually represented obsolete unsaleable material that could not be assessed to tax, we directed him to produce the said records before the assessing authority for the purposes of verification of the genuineness of those documents. This was by our order dated 14.03.2023, which is extracted below: Pursuant to our oral direction to the learned counsel for the petitioner to produce a reconciliation statement as regards battery and other parts for t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Profit and Loss Account for the year ended on 31-03-2012 at the time of filing. Also it is noted that the petitioner has not submitted these documents before appellate authorities, Deputy Commissioner (Appeals), VAT Appellate Tribunal, Ernakulam. 6. In view of the fact that the assessing authority has now accepted that the documents produced by the petitioner are reliable, and that the only reason for disallowing the claim of the assessee was the non-production of those documents along with Form 13 audit report, Form 13A audited Balance Sheet and the audited Profit and Loss Account for the year ended 31.03.2012, we feel that the said technical reasons need not be a reason to deny the petitioner the substantive benefit of deduction of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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