https://www.taxtmi.com/caselaws?id=163650 Projected turnover figures furnished to a bank for securing loans and enhanced credit facilities could not, by themselves, be treated as actual taxable turnover under trade tax law. Where the dealer explained that the figures were only estimates for banking purposes, supported by a bank certificate and surrounding circumstances, and the original assessment had accepted the books without adverse discrepancy, the department was required to prove suppression with independent material. In the absence of any such evidence, reassessment based solely on the bank figures was not justified, and the burden of proving undisclosed turnover remained undischarged. en-us Thu, 20 Dec 2007 00:00:00 +0530 Wed, 17 Dec 2014 12:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=163650 Projected turnover figures furnished to a bank for securing loans and enhanced credit facilities could not, by themselves, be treated as actual taxable turnover under trade tax law. Where the dealer explained that the figures were only estimates for banking purposes, supported by a bank certificate and surrounding circumstances, and the original assessment had accepted the books without adverse discrepancy, the department was required to prove suppression with independent material. In the absence of any such evidence, reassessment based solely on the bank figures was not justified, and the burden of proving undisclosed turnover remained undischarged. Case-Laws VAT and Sales Tax Thu, 20 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=163650