Assessee can’t be held guilty for suppression of facts when valuation has been changed on advice of dept. : Madras HC

GST/EXCISE/ST/VAT : Where assessee had changed its method of valuation as per rule 8 of Excise valuation Rules on advice of Department in course of audit, Adjudicating Authority, without referring to said communication could not invoke extended period of limitation and hold that assessee was guilty of suppression of relevant facts and thereby impose duty following Rule 4 Valuation

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000196132/assessee-can’t-be-held-guilty-for-suppression-of-facts-when-valuation-has-been-changed-on-advice-of-dept-madras-hc.aspx