2023 (4) TMI 318

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....Revision are are follows:- The revision petitioner is an assessee on the rolls of the Assistant Commissioner, Special Circle III, Ernakulam. In the assessment under the Value Added Tax Act for the assessment year 2011-2012 the assessing authority noted that the petitioner had conceded a closing stock of Rs.2,67,94,845/- and that the said value was arrived at after deducting the value of battery and spare parts amounting to Rs.13,99,851/- and engine oil worth Rs,8,43,141/-. The deduction was on the ground that the said amounts represented damaged and obsolete/ unsaleable goods from previous assessment years. The assessing authority disbelieved the said contention of the assessee and the said amount was also brought to tax after addi....

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....ure-G, a reconciliation statement to establish his contention as regards old stock/obsolete stock/damage stock. In order to verify the authenticity of the said reconciliation statement and the correctness of it, we deem it appropriate to direct the petitioner to produce the said statement together with the supporting records before the Assessing Authority, Special Circle-III, Ernakulam, on 20.03.2023. The said Assessing Authority shall after going through the reconciliation statement produced by the petitioner, submit a report before us as regards the reliability of the said statement for the purposes of completing the assessment against the petitioner. The report shall reach this Court by 28.03.2023. Post on 30.03.2023" 5. Pursuant to t....