Voluntary Admission of turnover suppression held strong evidentiary value, couldn’t be retracted without credible evidence

State of Tamil Nadu Vs Tvl. Jain Marketing (Madras High Court) Conclusion: Voluntary admission of turnover suppression made by a dealer at the time of inspection carried strong evidentiary value and could not be retracted without credible evidence. Appellate Assistant Commissioner and Tribunal erred in setting aside the assessment, as their reasoning was contrary to the evidence on record. Held: Respondent was a dealer in Paan Parrag, was assessed for the assessment year 1999–2000 on a total turnover of Rs. 3,31,97,425 and taxable turnover of Rs. 34,67,925, as against the declared turnover o...