https://www.taxtmi.com/caselaws?id=420274 Suppressed turnover detected through inspection and seizure of incriminating records justified a revised assessment based on the recovered materials. The assessee failed to show that the transactions reflected in those documents were already included in the original returns, so the equal addition for sales suppression was sustained. Penalty was also found warranted because the suppression emerged only after inspection, but the Court moderated the balance liability in light of full tax payment and partial remittance of penalty, reducing the remaining penalty component to 50%. en-us Fri, 04 Mar 2022 00:00:00 +0530 Thu, 31 Mar 2022 08:21:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420274 Suppressed turnover detected through inspection and seizure of incriminating records justified a revised assessment based on the recovered materials. The assessee failed to show that the transactions reflected in those documents were already included in the original returns, so the equal addition for sales suppression was sustained. Penalty was also found warranted because the suppression emerged only after inspection, but the Court moderated the balance liability in light of full tax payment and partial remittance of penalty, reducing the remaining penalty component to 50%. Case-Laws VAT and Sales Tax Fri, 04 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420274