https://www.taxtmi.com/caselaws?id=428497 The Tribunal's reduction of assessed turnover and tax demand was held unsustainable because it did not record specific reasons or issue-wise findings on the loose papers and other material relied upon in the reassessment. As the final fact-finding authority under the U.P. Value Added Tax Act, 2008, the Tribunal was required to give rational, reasoned findings before either enhancing or reducing turnover, since the exercise directly affected tax liability. The order was therefore set aside and the matter remanded to the Tribunal for fresh adjudication on merits with specific findings on the revision grounds. en-us Fri, 30 Sep 2022 00:00:00 +0530 Mon, 03 Oct 2022 08:56:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428497 The Tribunal's reduction of assessed turnover and tax demand was held unsustainable because it did not record specific reasons or issue-wise findings on the loose papers and other material relied upon in the reassessment. As the final fact-finding authority under the U.P. Value Added Tax Act, 2008, the Tribunal was required to give rational, reasoned findings before either enhancing or reducing turnover, since the exercise directly affected tax liability. The order was therefore set aside and the matter remanded to the Tribunal for fresh adjudication on merits with specific findings on the revision grounds. Case-Laws VAT and Sales Tax Fri, 30 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428497