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M/S. Puyvast Maritime India Pvt Ltd vs Union Of India on 25 April, 2024

M/S Ecl Puyvast (India) Pvt Ltd vs Union Of India on 25 April, 2024

consideration in issuing the public notice was to check unscrupulous exporters including the writ petitioners from inflating their export turnover by adopting dubious methods ... Schemes that could not be countenanced and had to be checked. We are not delving with those alleged malpractices and hold back the same

absence of such an enquiry vitiates the entire process. c) The check period considered by the respondents spans 23 years, from 1997 to 12.06.2020, which ... Supreme Court. A prolonged check period extending over two decades fails to account for economic fluctuations, inflation, and changes in asset valuation, and is thus

others1 to contend that, when the check period stretches into several decades there will be inflation and natural progression in the changing economy affects ... given while making assessment, taking into consideration the economical inflations. 9. He has also placed reliance on the decision of this Court

assessee-company. 5. However, to check the exaggerated claim of depreciation on the so called inflated price of these plants, the Assessing Authority relied upon

considered that the check period is from 1996 to 2020, spanning almost twenty-five years. Over such an extended period, inflation and natural economic progression

short by Rs.53-15-9; and (ii) Lack of internal check and the unreconciled statement of banker`s accounts appear to have been exploited ... passing debits to the bank`s accounts with other banks and thereby inflating the balances with the other banks in the books of the bank

Crore 50 lakhs/-. But according to the petitioner that is an inflated figure and he had informed the department about the construction of the said ... lease. The property at item No.3 was purchased prior to check period. The property at item No.6 is shown worth Rs.40 lakhs

proved that the accused is having possession of the assets during the check period shown in 15 items ... Dress materials, it was opined that the investigating officer might have shown inflated price of these items and at the same time observed that