https://www.taxtmi.com/caselaws?id=437842 HC set aside the revised assessment and consequential tax and interest imposed on the petitioner under Section 35(7) r/w Section 30(4) of the JVAT Act for alleged concealment of gross turnover by under-invoicing iron ore sales. The Court held that recording of reasons by the prescribed authority before initiating proceedings under Section 35(7) is mandatory and a sine qua non, in addition to granting an opportunity of hearing. As there was no material showing such recorded satisfaction or tangible evidence of sale at higher prices, the assessment was vitiated. The matter was remanded to the AO to proceed afresh in accordance with Section 35(7). en-us Wed, 10 May 2023 00:00:00 +0530 Fri, 28 Nov 2025 14:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437842 HC set aside the revised assessment and consequential tax and interest imposed on the petitioner under Section 35(7) r/w Section 30(4) of the JVAT Act for alleged concealment of gross turnover by under-invoicing iron ore sales. The Court held that recording of reasons by the prescribed authority before initiating proceedings under Section 35(7) is mandatory and a sine qua non, in addition to granting an opportunity of hearing. As there was no material showing such recorded satisfaction or tangible evidence of sale at higher prices, the assessment was vitiated. The matter was remanded to the AO to proceed afresh in accordance with Section 35(7). Case-Laws VAT / Sales Tax Wed, 10 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437842