Penalty for unrecorded trade transactions fails where the dealer's accounts duly reflect the transaction.

Penalty under the U.P. Trade Tax Act was unsustainable because the transaction had been duly recorded in the dealer's account books. The statutory conditions for penalty applied only where goods were not entered in the accounts or were not traceable to a bona fide dealer, and those findings were absent on the facts found by the authorities. The deletion of penalty was therefore maintained, and the revision failed.

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Issues: Whether penalty under section 13A(4) of the U.P. Trade Tax Act, 1948 was leviable on the facts found.

Analysis: The transaction was found by the authorities below to have been duly entered in the dealer's account books. Section 13A(4) permits penalty only where the goods are not recorded in the account books or where the goods are not traceable to a bona fide dealer. Since the factual finding was that the transaction was recorded, the statutory conditions for penalty were not satisfied.

Conclusion: The deletion of penalty was upheld and the revision was dismissed.

Final Conclusion: No penalty could be sustained under section 13A(4) on the recorded facts, and the Tribunal's order was maintained.

Ratio Decidendi: Penalty under section 13A(4) of the U.P. Trade Tax Act, 1948 can be imposed only on the specific statutory conditions stated therein, and not where the transaction is duly recorded in the account books.

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