https://www.taxtmi.com/caselaws?id=371531 A dealer who opts for and obtains permission under the compounding scheme under the Kerala Value Added Tax Act, 2003 cannot later resile from that election and claim a different tax treatment for the same turnover; the disclosed turnover was therefore taxable in accordance with the compounding option. Where the assessee failed to produce books of account and supporting records, a best judgment addition for probable omission and suppression was justified, and it could not be deleted without discrediting the factual basis of the estimate. For the estimated portion, tax was to be computed at the regular rate after the deductions under Rule 10 of the Kerala Value Added Tax Rules, 2005. en-us Fri, 14 Sep 2018 00:00:00 +0530 Thu, 06 Dec 2018 05:33:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371531 A dealer who opts for and obtains permission under the compounding scheme under the Kerala Value Added Tax Act, 2003 cannot later resile from that election and claim a different tax treatment for the same turnover; the disclosed turnover was therefore taxable in accordance with the compounding option. Where the assessee failed to produce books of account and supporting records, a best judgment addition for probable omission and suppression was justified, and it could not be deleted without discrediting the factual basis of the estimate. For the estimated portion, tax was to be computed at the regular rate after the deductions under Rule 10 of the Kerala Value Added Tax Rules, 2005. Case-Laws VAT and Sales Tax Fri, 14 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371531