https://www.taxtmi.com/caselaws?id=62446 Unrecorded purchase of plain white paper from a sister concern was treated as suppression of turnover, and the best-judgment estimate of escaped turnover was upheld because it was supported by the scale of business and related-party dealings. Conversion of plain white paper into printed-line paper did not amount to manufacture, as no new commercially distinct commodity emerged, so exemption for manufactured goods was denied. The same activity was nevertheless treated as processing within the concessional tax entry, and the assessee was entitled to a fair opportunity to produce the required form E declarations before concessional treatment was refused. Penalty for suppression was sustained but reduced, being linked to the tax ultimately assessable on the escaped turnover. en-us Wed, 12 Oct 1977 00:00:00 +0530 Thu, 19 May 2022 17:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62446 Unrecorded purchase of plain white paper from a sister concern was treated as suppression of turnover, and the best-judgment estimate of escaped turnover was upheld because it was supported by the scale of business and related-party dealings. Conversion of plain white paper into printed-line paper did not amount to manufacture, as no new commercially distinct commodity emerged, so exemption for manufactured goods was denied. The same activity was nevertheless treated as processing within the concessional tax entry, and the assessee was entitled to a fair opportunity to produce the required form E declarations before concessional treatment was refused. Penalty for suppression was sustained but reduced, being linked to the tax ultimately assessable on the escaped turnover. Case-Laws VAT and Sales Tax Wed, 12 Oct 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62446