Tvl. Future General India Insurance Co. Ltd. Vs Assistant Commissioner
Date: February 15, 2024
Subject Matter
Tax liability cannot be arbitrarily imposed based solely on technicalities such as the absence of state-wise turnover in financial statements
Summary
The case involves the assessment order passed by the assessing officer imposing GST at a rate of 36% instead of 18% on the turnover due to the absence of state-wise turnover in the petitioner's financial statements. The Madras High Court held tha…
FULL TEXT OF THE JUDGMENT/ORDER OF MADRAS HIGH COURT The petitioner assails an assessment order dated 30.12.2023. 2. The petitioner is a private general insurance company engaged in the business of providing insurance products. On 16.08.2021, the petitioner received an audit notice. The petitioner submitted documents in response to the said notice and replied to the defects raised in the audit sli…