https://www.taxtmi.com/caselaws?id=163870 Reassessment based on detected stock variation and suppression of opening stock is sustainable when supported by fresh material from inspection and account verification, rather than a mere change of opinion. Where suppression of stock and turnover is established, equal-time addition may be made on the same factual basis. Penalty under section 16 of the Tamil Nadu General Sales Tax Act, 1959 is also supportable when the record shows deliberate suppression through inconsistent opening stock figures, not a bona fide accounting error. The commentary therefore affirms that reassessment, best judgment-style addition, and statutory penalty can all stand on proof of suppression. en-us Thu, 13 Sep 2007 00:00:00 +0530 Fri, 26 Dec 2014 13:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=163870 Reassessment based on detected stock variation and suppression of opening stock is sustainable when supported by fresh material from inspection and account verification, rather than a mere change of opinion. Where suppression of stock and turnover is established, equal-time addition may be made on the same factual basis. Penalty under section 16 of the Tamil Nadu General Sales Tax Act, 1959 is also supportable when the record shows deliberate suppression through inconsistent opening stock figures, not a bona fide accounting error. The commentary therefore affirms that reassessment, best judgment-style addition, and statutory penalty can all stand on proof of suppression. Case-Laws VAT and Sales Tax Thu, 13 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=163870