https://www.taxtmi.com/caselaws?id=383218 The Kerala Value Added Tax Tribunal reversed an assessment under the KVAT Act for the year 2009-10 due to a discrepancy in purchase turnover. The Tribunal found that the addition to taxable turnover for non-accounted purchases was not justified as there was no evidence of unaccounted sales or sales turnover escapement. The Tribunal emphasized the importance of filing complete and accurate returns but held that penalization under Section 67 may apply for incomplete returns, not additional tax demands for omitted purchases. The Court dismissed the revision petition, upholding the Tribunal's decision and confirming the dismissal of the revision petition. en-us Fri, 21 Jun 2019 00:00:00 +0530 Thu, 18 Jul 2019 17:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383218 The Kerala Value Added Tax Tribunal reversed an assessment under the KVAT Act for the year 2009-10 due to a discrepancy in purchase turnover. The Tribunal found that the addition to taxable turnover for non-accounted purchases was not justified as there was no evidence of unaccounted sales or sales turnover escapement. The Tribunal emphasized the importance of filing complete and accurate returns but held that penalization under Section 67 may apply for incomplete returns, not additional tax demands for omitted purchases. The Court dismissed the revision petition, upholding the Tribunal's decision and confirming the dismissal of the revision petition. Case-Laws VAT and Sales Tax Fri, 21 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383218