https://www.taxtmi.com/caselaws?id=161207 A revisional authority may exercise suo motu power to examine an assessment only on relevant material and judicially, not on conjecture or unsupported market assumptions. The Gauhati HC held that sale price cannot be fixed merely on market information and departmental reports without dependable proof such as sale receipts, so the revisional interference on that basis was unsustainable. The Court sustained the disallowance of the claimed shortage where the larger claim lacked valid support. It also accepted that interest on additional demand arising from reassessment depends on the tax finally assessed and cannot be avoided simply because the original return was paid in time. en-us Sat, 25 Jul 1998 00:00:00 +0530 Thu, 09 Jan 2014 17:16:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=161207 A revisional authority may exercise suo motu power to examine an assessment only on relevant material and judicially, not on conjecture or unsupported market assumptions. The Gauhati HC held that sale price cannot be fixed merely on market information and departmental reports without dependable proof such as sale receipts, so the revisional interference on that basis was unsustainable. The Court sustained the disallowance of the claimed shortage where the larger claim lacked valid support. It also accepted that interest on additional demand arising from reassessment depends on the tax finally assessed and cannot be avoided simply because the original return was paid in time. Case-Laws VAT and Sales Tax Sat, 25 Jul 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=161207