Assessee admits unrecorded goods at business location; release upon 50% tax, penalty payment, and security for balance.

Assessee admits unrecorded goods at business location; release upon 50% tax, penalty payment, and security for balance. https://www.taxtmi.com/highlights?id=48920 Jurisdiction/power to seize goods - Once it was admitted to the assessee during the course of the survey that it had not recorded the goods found stored at his disclosed place of business in the regular books of account, a presumption of the goods having been "secreted" did arise, constructively, however this presumption is rebuttable - directed to release the goods after paying 50% tax & penalty and security for balance en-us Tue, 27 Aug 2019 07:53:32 +0530 Tue, 27 Aug 2019 07:53:32 +0530 TaxTMI RSS Generator Assessee admits unrecorded goods at business location; release upon 50% tax, penalty payment, and security for balance. https://www.taxtmi.com/highlights?id=48920 Jurisdiction/power to seize goods - Once it was admitted to the assessee during the course of the survey that it had not recorded the goods found stored at his disclosed place of business in the regular books of account, a presumption of the goods having been "secreted" did arise, constructively, however this presumption is rebuttable - directed to release the goods after paying 50% tax & penalty and security for balance Highlights GST Tue, 27 Aug 2019 07:53:32 +0530 https://www.taxtmi.com/highlights?id=48920