TMI Blog2019 (7) TMI 1991X X X X Extracts X X X X X X X X Extracts X X X X ..... after a lapse of 15 years - HELD THAT:- A dealer is required to statutorily maintain and preserve books of accounts and all documents connected and ancillary to its business only for a period of five years from the date on which the assessment relating to that year had become final. In the present case, the periods of assessment stretch from 1989-1990 to 1994-1995. The pre-assessment notices ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted 09.08.1999, were issued proposing to bring tax turnover from the sale of rubber in terms of the provisions of the Central Sales Tax Act, 1956. 2. The petitioners objected to the pre-assessment proposals vide communication dated 23.08.1999. After a lapse of 15 years, the impugned orders have been passed on 03.11.2015 confirming the proposals originally made. Though the TNGST Act (in terms of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an assessee to maintain books of accounts necessary for the finalisation of assessments. 5. In this regard, useful reference may be made to Sections 40(2) (a) and 40(2)(b) of the Tamilnadu General Sales Tax Act 1959 that read as follows: Sec.40(2)(a) Every registered dealer shall keep at the place of business specified in the certificate of registration, books of account for the current yea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... utput and sales for a year, shall be preserved by them for a period of five years from the date on which the assessment relating to that year had become final. 7. It is thus clear that a dealer is required to statutorily maintain and preserve books of accounts and all documents connected and ancillary to its business only for a period of five years from the date on which the assessment relatin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... account of others whether for cash or for deferred payment or other valuable consideration, provided that the proceeds of the sale by a person of agricultural or horticultural produce, other than tea, and rubber (natural rubber latex and all varieties and grades of raw rubber) grown within the State by himself or on any land in which he has an interest whether as owner, usufructuary mortgagee, ten ..... X X X X Extracts X X X X X X X X Extracts X X X X
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