https://www.taxtmi.com/caselaws?id=425818 Limitation barred the reassessment notices and final orders where they were issued after the applicable statutory periods under the Tamil Nadu Value Added Tax Act, 2006, and the bar was established on the admitted dates. The undervaluation additions under Section 24 also failed because the department relied only on suspicion, price variation and an exemption-related inference, without concrete enforcement material, a scientific basis, or comparison with similarly placed dealers to show conscious sale at abnormally low prices. As the statutory ingredients were not met and tax had been paid on the wholesale price, the assessments were unsustainable and were quashed in favour of the assessee. en-us Wed, 20 Jul 2022 00:00:00 +0530 Tue, 02 Aug 2022 09:42:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425818 Limitation barred the reassessment notices and final orders where they were issued after the applicable statutory periods under the Tamil Nadu Value Added Tax Act, 2006, and the bar was established on the admitted dates. The undervaluation additions under Section 24 also failed because the department relied only on suspicion, price variation and an exemption-related inference, without concrete enforcement material, a scientific basis, or comparison with similarly placed dealers to show conscious sale at abnormally low prices. As the statutory ingredients were not met and tax had been paid on the wholesale price, the assessments were unsustainable and were quashed in favour of the assessee. Case-Laws VAT and Sales Tax Wed, 20 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425818