Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Valuation - Inclusion of Mandi Fees/ Mandi Shulk into the Sale Price for calculation of VAT - The expression ‘any other duty or tax’, is clearly broad enough to include the Mandi Shulk, which is nothing but a duty which the dealer is statutorily entitled to recover from the purchaser. Merely because it is statutorily recoverable by the dealer from the purchaser, it does not cease to be ‘any other duty’ within the meaning of ‘sale price’ defined in Section 2(42) of the Uttarakhand VAT Act. - Demand confirmed - HC
Valuation - Inclusion of Mandi Fees/ Mandi Shulk into the Sale Price for calculation of VAT - The expression ‘any other duty or tax’, is clearly broad enough to include the Mandi Shulk, which is nothing but a duty which the dealer is statutorily entitled to recover from the purchaser. Merely because it is statutorily recoverable by the dealer from the purchaser, it does not cease to be ‘any other duty’ within the meaning of ‘sale price’ defined in Section 2(42) of the Uttarakhand VAT Act. - Demand confirmed - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
