Case Law Details
Sri Shanti Readymade Vs Commissioner (Allahabad High Court)
Introduction: The Allahabad High Court recently delivered a significant judgment in the case of Sri Shanti Readymade vs. Commissioner, involving the UP VAT Act. The central focus was on the rejection of account books and the contentious issue of turnover enhancement. In this article, we delve into the details of the case and the court’s findings on crucial questions of law.
Detailed Analysis:
1. Background of the Case: The case revolves around the revisionist, a registered dealer under the UP VAT Act engaged in the trading of ready-made garments. A survey conducted in 2014 led to the rejection of account books and an increase in turnover, prompting legal proceedings.
2. Questions of Law: The court admitted the revision on key questions, challenging the justification for rejecting account books, estimating undisclosed sales, and assessing purchases without granting Input Tax Credit. The legality of the best judgment assessment was under scrutiny.
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