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Loose Sheets & Excise Data Corroborate 132(4) Admission, ITAT Upholds Addition
Case Law Details
- Case Name
- Midas Golden Distilleries Pvt. Ltd Vs DCIT (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Chennai
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Midas Golden Distilleries Pvt. Ltd Vs DCIT (ITAT Chennai)
Director’s 132(4) Statement Backed by Seized Loose Sheets & Excise Records Held Valid Evidence; Mere Plea of ‘Old vs. New Bottles’ Rejected ITAT Chennai
Assesee company, a major manufacturer of alcoholic beverages & supplier to the Tamil Nadu State Marketing Corporation(TASMAC), was subjected to a search u/s 132 on 09.11.2017. During the search on the premises of its bottle & carton suppliers – M/s SSE & M/s SSC, loose sheets were seized which allegedly revealed systematic over-invoicing of bottles & cartons ...
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