Reassessment for unreturned property sales survives where transfer information, non-filing, and unsupported exemption claims establish a prima facie l...
Profit-element taxation limits additions for unaccounted flat-sale receipts and grey-market purchases, while reliable search records support partial a...
Non-participating bidders cannot disturb concluded liquidation sales on speculative prejudice, while costs for such challenges must remain proportiona...
The High Court considered the issue of deemed sale u/s 2(40) of the Uttarakhand Value Added Tax Act, 2005, upholding the assessment by the Assistant Commissioner. The net turnover calculation u/s Rule 15(2) allows deductions for specified amounts. Citing M/S. K.P. MOZIKA case, the Supreme Court clarified that providing vehicles for transport doesn't constitute transfer of right to use goods. Referring to STATE OF ANDHRA PRADESH case, it emphasized that contracts not involving transfer of right to use goods aren't subject to VAT. The Tribunal erred in treating transactions as deemed sale. Therefore, deduction for driver's salary, cleaner, and fuel costs is not applicable, as the transaction wasn't taxable. Revision was allowed.
The High Court considered the issue of deemed sale u/s 2(40) of the Uttarakhand Value Added Tax Act, 2005, upholding the assessment by the Assistant Commissioner. The net turnover calculation u/s Rule 15(2) allows deductions for specified amounts. Citing M/S. K.P. MOZIKA case, the Supreme Court clarified that providing vehicles for transport doesn't constitute transfer of right to use goods. Referring to STATE OF ANDHRA PRADESH case, it emphasized that contracts not involving transfer of right to use goods aren't subject to VAT. The Tribunal erred in treating transactions as deemed sale. Therefore, deduction for driver's salary, cleaner, and fuel costs is not applicable, as the transaction wasn't taxable. Revision was allowed.
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