https://www.taxtmi.com/caselaws?id=311459 Compounding of an offence under the Kerala Value Added Tax Act did not bar best judgment assessment of suppressed turnover, because composition under Section 74(1) only protects the dealer from further penal or prosecution ings under Section 74(2). The assessing authority could therefore estimate the real turnover independently to protect revenue. Additions made beyond the detected suppression, including gross profit addition, were also upheld because the extent of estimation lies within the discretion of best judgment assessment and the adopted figure was not shown to be perverse. The turnover so determined governed eligibility for presumptive taxation, and the revision failed. en-us Tue, 31 Jul 2012 00:00:00 +0530 Mon, 08 Jan 2024 16:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311459 Compounding of an offence under the Kerala Value Added Tax Act did not bar best judgment assessment of suppressed turnover, because composition under Section 74(1) only protects the dealer from further penal or prosecution ings under Section 74(2). The assessing authority could therefore estimate the real turnover independently to protect revenue. Additions made beyond the detected suppression, including gross profit addition, were also upheld because the extent of estimation lies within the discretion of best judgment assessment and the adopted figure was not shown to be perverse. The turnover so determined governed eligibility for presumptive taxation, and the revision failed. Case-Laws VAT and Sales Tax Tue, 31 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311459