Assessing Officer is to consider the Assessee’s reply with an open mind before concluding the assessment

The Hon’ble Madras High Court in the case of SL Lumax Ltd. disposed of the writ petitions by holding that the SCN issued to the Petitioner were prima facie indicative of pre-judgment and directed the assessing officer to conclude the assessments after considering the Petitioner’s materials, including HSN Explanatory Notes and relevant judgments.

Tax Liability cannot be imposed merely because the financial statement did not provide State-wise turnover

The Hon’ble Madras High Court, in the case of Tvl. Future General India Insurance Co. Ltd. held that an assessment order passed by the Assessing Officer, had accepted the explanation of the assessee with regard to certain defects but had imposed GST at rate of 36% instead of 18 % on the ground that the financial statements submitted by the assessee did not reflect state-wise turnover, the impugned assessment order was to be set aside, and the matter was to be remanded to the Competent Authority for reconsideration.

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