https://www.taxtmi.com/caselaws?id=424132 An alleged receipt could not be treated as suppressed purchases under reassessment when the assessee denied purchase suppression and produced material supporting a loan transaction, including accounting entries and a statement from the other party. Once that explanation was furnished, the burden shifted to the Revenue to disprove it, and the assessee was not required to prove a negative fact. As the authorities relied only on presumption and lacked adequate material to establish purchase suppression, the reassessment and penalty orders were set aside. en-us Tue, 21 Jun 2022 00:00:00 +0530 Thu, 23 Jun 2022 10:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424132 An alleged receipt could not be treated as suppressed purchases under reassessment when the assessee denied purchase suppression and produced material supporting a loan transaction, including accounting entries and a statement from the other party. Once that explanation was furnished, the burden shifted to the Revenue to disprove it, and the assessee was not required to prove a negative fact. As the authorities relied only on presumption and lacked adequate material to establish purchase suppression, the reassessment and penalty orders were set aside. Case-Laws VAT and Sales Tax Tue, 21 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424132