HC
quashes re-assessment proceedings which allowed 30% deduction towards labour
and like charges in respect of works contract under Rule 3(2)(m) of Karnataka
VAT Rules, when actual amounts were ascertainable; Observes, assessee
maintained proper books of accounts but since it was practically difficult to
produce them in entirety due to their copious size, Revenue was requested to
examine the books at its business premises or else allow production of
documents for specific expenses incurred; Hence, in view of the fact that
assessee was willing to produce the books of account before Revenue, it cannot
be held that the assessee did not maintain the books or was not willing to
produce the same, observes HC; Remarks, “A cartload of books of accounts
requires to be examined by the Prescribed Authority to ascertain the
genuineness of the claim made”, and accordingly, allows deduction towards
actual labour and other like charges under Rule 3(2)(l) : Karnataka HC
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