TaxTMI 
TaxTMI 
2022 (8) TMI 57
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.... petitioners. Prima facie, the officials of the Enforcement Department appear to have been of the view that the petitioner has undervalued its products and consequently the pricing so as to avail the benefit of statutory exemption that it claims. 3.To be noted that Entry-30/Part B/Schedule-IV of the Tamil Nadu Value Added Taxes Act, 2006 (in short 'Act') exempts turnover from the sale of footwear, where each pair of the footwear is priced at less than Rs.200/-. Since the petitioner has priced the pairs at less than Rs.200/-, this has triggered a suspicion in the minds of the revenue that the prices have been tampered so as to bring them within the cover of the exemption. 4.For the purposes of this order, W.P.No.12997/2019, in the case of VKC Footcare (India) Pvt. Ltd. Vs The State Tax Officer, is taken to be the main Writ Petition and the dates, facts and circumstances in this Writ Petition are alluded to for the sake of clarity. 5.Both Mr.N.Inbarajan, learned counsel appearing for the petitioners and Mr.Haja Nazirudeen, learned Additional Advocate General appearing for Mr.R.Siddharth, learned Government Advocate for Commercial Taxes Department would concur on the ....
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....sment Year Deemed Assessment Limitation under Section 24 Date of Revision of notice Date of Final Order 1. VKC Footcare India 12997/2019 2010-11 VAT 31.03.2011 31.03.2016 20.09.2018 09.04.2019 2. VKC Footcare India 12999/2019 2011-12 VAT 31.03.2012 31.03.2017 20.09.2018 09.04.2019 3. VKC Footcare India 13002/2019 2012-13 VAT 31.03.2013 31.03.2018 20.09.2018 09.04.2019 4. VKC Footprint Global 12966/2019 2012-13 VAT 31.03.2013 31.03.2018 20.09.2018 11.04.2019 Limitation under Section 27(1) of the TNVAT Act, 2006 S.No. Party Name W.P.No. Assessment Year Deemed Assessment Limitation under Section 27(1) Date of Revision of notice Date of Final Order 1. VKC Footcare 12997/2019 2010-11 VAT 30.06.2012 30.06.2017 20.09.2018 09.04.2019 2. VKC Footcare 12999/2019 2011-12 VAT 30.06.2012 30.06.2017 20.09.2018 09.04.2019 3. Ferrari Shoes 13195/2019 2011-12 VAT 30.06.2012 30.06.2017 20.09.2018 10.04.2019 12.The revision notices in relation to the above periods have been issued pursuant to t....
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....51 162.5 199.9 7.62 23.02 32.38 11.5 37.4 48.9 1039GENTS 46464 151 162.5 199.9 7.62 23.02 32.38 11.5 37.4 48.9 2003GENTS 12384 151 162.5 199.9 7.62 23.02 32.38 11.5 37.4 48.9 111LADIES 129660 144 158 219.5 9.72 38.92 52.43 14 61.5 75.5 107LADIES 139920 141 155 214 9.93 38.06 51.77 14 59 73 102LADIES 94680 137 148.5 199.9 8.39 34.61 45.91 11.5 51.4 62.9 121LADIES 69390 137 148.5 199.9 8.39 34.61 45.91 11.5 51.4 62.9 201LADIES 1110 137 148.5 199.9 8.39 34.61 45.91 11.5 51.4 62.9 255LADIES 180 137 148.5 199.9 8.39 34.61 45.91 11.5 51.4 62.9 1031BOYS 5790 137 148.5 199.9 8.39 34.61 45.91 11.5 51.4 62.9 1035BOYS 3660 137 148.5 199.9 8.39 34.61 45.91 11.5 51.4 62.9 1038BOYS 21750 137 148.5 199.9 8.39 34.61 45.91 11.5 51.4 62.9 104LADIES 253230 134 147 198.9 9.70 35.31 48.43 13 5....
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....rices at every stage of sale, manufacturer/wholesaler/retailer. Such differences however, may well arise on account of the costs incurred at each stage and the profit margin of each of the entities. 18. The provisions of Section 24 of the Act provide for exactly the situation that arises in the present case, and read as follows: 1. Assessment of sales shown in accounts at low prices: (1) If the assessing authority is satisfied that a dealer has, with a view to evade the payment of tax, shown in his accounts, sales or purchases of any goods, at prices which are abnormally low compared to the prevaling market price of such goods, it may, at any time within a period six years from the expiry of the year to which the tax relates, assess or re-assess the dealer to the best of its judgment on the turnover of such sales or purchases after making such enquiry as it may consider necessary and after giving the dealer a reasonable opportunity to show cause against such assessment. (2) The provisions of sub-sections (3) to (8) of Section 27, shall, as far as may be, apply to assessment or reassessment under sub-section (1) as they apply to the reassessment of esca....