https://www.taxtmi.com/caselaws?id=384554 Where a responsible person of the assessee is present during a survey, admits the stock quantity, signs the survey record, and does not retract that statement, the revenue authorities may rely on that contemporaneous admission to determine excess stock even without actual weighment. The High Court treated the director's statement and the signed survey note as sufficient material to sustain the addition, and held that the contrary decision cited was distinguishable because it did not involve such direct disclosure by the person in charge. The challenge to the stock-based tax addition was therefore rejected and the tax liability upheld. en-us Wed, 14 Aug 2019 00:00:00 +0530 Sat, 17 Aug 2019 06:16:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384554 Where a responsible person of the assessee is present during a survey, admits the stock quantity, signs the survey record, and does not retract that statement, the revenue authorities may rely on that contemporaneous admission to determine excess stock even without actual weighment. The High Court treated the director's statement and the signed survey note as sufficient material to sustain the addition, and held that the contrary decision cited was distinguishable because it did not involve such direct disclosure by the person in charge. The challenge to the stock-based tax addition was therefore rejected and the tax liability upheld. Case-Laws VAT and Sales Tax Wed, 14 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384554