Financial statements can’t be relied upon to grant stay when there is charge of suppression

ST : Where there is prima facie finding of suppression of provision of services and receipts therefrom, balance sheets cannot be said to reflect true and correct financial position; hence, requirement of pre-deposit cannot be waived based on balance sheets

Source: http://www.taxmann.com/topstories/101010000000084958/financial-statements-can%E2%80%99t-be-relied-upon-to-grant-stay-when-there-is-charge-of-suppression.aspx

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