Assessment of turnover - best judgement assessment - suppression ...

Court Rules Loose Papers Insufficient to Reject Business Financial Records; Stronger Evidence Needed in VAT, Sales Tax Cases.

November 23, 2016

Case Laws VAT and Sales Tax HC

Assessment of turnover - best judgement assessment - suppression of facts - The mere fact that these two loose papers were found in a desk present in the business premises would not on its own form sufficient ground for rejection of the books of accounts - HC

View Source

← Previous Next →

Assessment of turnover - best judgement assessment - suppression ...

Court Rules Loose Papers Insufficient to Reject Business Financial Records; Stronger Evidence Needed in VAT, Sales Tax Cases.

November 23, 2016

Case Laws VAT and Sales Tax HC

You may also like:

Loose papers found during a search at the residences of individuals contained notings and calculations presumed by the Assessing Officer (AO) to relate to undisclosed...

Understatement of sales - search and seizer operation were carried wherein the certain loose papers were found and seized - When all the explanation, documents were...

The High Court held that for levying penalty u/s 271D for violation of Section 269SS, the Assessing Officer must record satisfaction that the provisions were violated....

Assessment u/s 153A pursuant to search - Addition based on loose paper - Assessee stated loose papers does not carry any name and it also not clear whether the amount if...

HC ruled penalty proceedings under sections 271D and 271E require explicit satisfaction to be recorded by Assessing Officer during reassessment. Mere recording of...

Addition u/s 69A - survey action under Section 133A - Addition based on loose paper in search - There is no concrete evidence which has been brought on record by the...

The adjudicating authority is bound to explain the alleged contraventions to the person proceeded against or their legal representatives. Rule 4(4) mandates...

National Financial Reporting Authority (Amendment) Rules, 2019 - Rule 2, Rule 3, Rule 5 and Rule 11 amended.

Exemption u/s 11 - withdrawing/cancelling the registration u/s.12AA - loose papers found in search relied upon -Such loose sheets are not signed and author of such sheet...

The HC ruled that the petitioner, a charitable hospital, is exempt from tax under the Madhya Pradesh Commercial Tax Act, 1994 for medicine supplies and canteen services....

The High Court set aside the impugned order dated 02.02.2024 rejecting the Rectification Application filed by the petitioner. The court found that the order lacked...

This notification amends the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017. Key changes include: extending timelines for information...

Jurisdiction of civil court u/s 34 of SARFAESI Act was in question. Suit for declaration and permanent prohibitory injunction was rejected by lower courts under Order...

Valuation of imported goods - Admittedly, it is evident on the face of the record that deductive value was available before the Court below which have not been rejected...

HC upheld validity of Rule 36(4) of CGST Rules, dismissing constitutional challenge. Court determined Rule 36(4) derives authority from Section 16 of CGST Act and...

Quick Updates: