Tax Liability cannot be Imposed merely due to Absence of State-wise Turnover in Financial Statement

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.  H

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