Digital box limited an electronics dealer based in Luthuli avenue Nairobi Filed income tax and VAT returns which the revenue authority considered to be under declared by over Sh. 700 Million. The company raised an objection to the commissioner which was turned down confirming the previous assessment. Being aggrieved by the commissioner’s objection decision the company appealed to the Tax tribunal. In defense of their previous assessment KRA demonstrated that their estimated tax assessment based on analysis of bank statements was reliable effectively quashing the taxpayers self-assessment based on supposedly fraudulent records. The ruling by Tax appeals tribunal provide finer details of how tax can be estimated based on bank statement information.
For details of the case click the link https://int.search.myway.com/search/GGmain.jhtml?n=786737cb&p2=%5ECRB%5Expu442%5ETTAB03%5EKE&ptb=BDA1DA1B-E0BF-4D51-96AD-CBDCF6669CFB&qs=&si=&ss=sub&st=tab&trs=wtt&tpr=sbt&searchfor=digital+box+ltd+vs+kra&ts=1615020290323