https://www.taxtmi.com/caselaws?id=376386 Section 12-A of the Tamil Nadu General Sales Tax Act could not be invoked without an enquiry into the prevailing market price and material showing that sales were recorded at abnormally low prices with intent to evade tax. The assessment rested only on price variation in the dealer's accounts, without comparison with market rates, comparable dealers, or evidence of suppression of turnover or extra collection. The High Court held that the Tribunal was wrong in treating such enquiry as unnecessary, recognised the distinction between Section 12-A and Section 16, and found the reassessment unsustainable. The assessment and the Tribunal's reversal of the first appellate authority were therefore set aside. en-us Thu, 14 Feb 2019 00:00:00 +0530 Fri, 08 Mar 2019 09:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376386 Section 12-A of the Tamil Nadu General Sales Tax Act could not be invoked without an enquiry into the prevailing market price and material showing that sales were recorded at abnormally low prices with intent to evade tax. The assessment rested only on price variation in the dealer's accounts, without comparison with market rates, comparable dealers, or evidence of suppression of turnover or extra collection. The High Court held that the Tribunal was wrong in treating such enquiry as unnecessary, recognised the distinction between Section 12-A and Section 16, and found the reassessment unsustainable. The assessment and the Tribunal's reversal of the first appellate authority were therefore set aside. Case-Laws VAT and Sales Tax Thu, 14 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376386