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Tax Liability cannot be Imposed merely due to Absence of State-wise Turnover in Financial Statement
Case Law Details
- Case Name
- Tvl. Future General India Insurance Co. Ltd. Vs Assistant Commissioner (State Tax) (Madras High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Madras High Court
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Tvl. Future General India Insurance Co. Ltd. Vs Assistant Commissioner (ST) (FAC) (Madras High Court)
The Madras High Court recently rendered a significant ruling in the case of Tvl. Future General India Insurance Co. Ltd. v. Assistant Commissioner (ST) (FAC) [WP No. 3534 OF 2024 dated February 16, 2024]. The case revolves around the imposition of tax liability solely due to the absence of state-wise turnover in financial statements. Hon’ble Madras High Court held that an assessment order passed by the Assessing Officer, had accepted the explanation of the assessee ...
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