https://www.taxtmi.com/caselaws?id=160469 Depreciation in plant and machinery cannot reduce the actual investment used to test eligibility for small-scale industrial exemption under the Bengal and West Bengal Sales Tax Rules; the governing measure is the capital originally put into the unit, not its depreciated book value, and the exemption was therefore unavailable. Rejection of books and best judgment assessment were upheld because essential manufacturing records and reliable quantitative particulars were not produced, making the turnover enhancement non-arbitrary on the facts. Turnover tax and interest required recalculation for the relevant statutory period and correct rate, and the penalty was reduced as excessive, with fresh computation directed. en-us Wed, 19 Jan 2000 00:00:00 +0530 Wed, 18 Dec 2013 16:55:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=160469 Depreciation in plant and machinery cannot reduce the actual investment used to test eligibility for small-scale industrial exemption under the Bengal and West Bengal Sales Tax Rules; the governing measure is the capital originally put into the unit, not its depreciated book value, and the exemption was therefore unavailable. Rejection of books and best judgment assessment were upheld because essential manufacturing records and reliable quantitative particulars were not produced, making the turnover enhancement non-arbitrary on the facts. Turnover tax and interest required recalculation for the relevant statutory period and correct rate, and the penalty was reduced as excessive, with fresh computation directed. Case-Laws VAT and Sales Tax Wed, 19 Jan 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=160469