https://www.taxtmi.com/caselaws?id=246908 The High Court found in favor of the Revenue, setting aside the Tribunal's order that dismissed the appeal based on transactions with a finance company. The Court emphasized the necessity of proper proof to establish transactions as genuine, restoring the assessment while adjusting the penalty calculation due to the absence of additional sales tax liability. The Court allowed the Tax Case (Revisions) filed by the Revenue, stressing the importance of substantiating transactions beyond bill discounting agreements with finance companies for tax assessment purposes. en-us Wed, 07 Aug 2013 00:00:00 +0530 Wed, 09 Jul 2014 17:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246908 The High Court found in favor of the Revenue, setting aside the Tribunal's order that dismissed the appeal based on transactions with a finance company. The Court emphasized the necessity of proper proof to establish transactions as genuine, restoring the assessment while adjusting the penalty calculation due to the absence of additional sales tax liability. The Court allowed the Tax Case (Revisions) filed by the Revenue, stressing the importance of substantiating transactions beyond bill discounting agreements with finance companies for tax assessment purposes. Case-Laws VAT and Sales Tax Wed, 07 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246908