https://www.taxtmi.com/caselaws?id=72115 Unaccounted gold ornaments found in excess of book balance may be confiscated with redemption fine where the explanation for possession and late register entries is rejected as implausible. Criminal acquittal does not, by itself, defeat separate fiscal adjudication because the two proceedings operate on different standards of proof. Personal penalty on a partner or proprietor, however, requires proof that he was in charge of and responsible for the conduct of the business at the relevant time; where the evidence shows retirement from active management and no contrary material is produced, the penalty cannot stand. en-us Tue, 06 Aug 1985 00:00:00 +0530 Wed, 25 Jan 2012 16:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=72115 Unaccounted gold ornaments found in excess of book balance may be confiscated with redemption fine where the explanation for possession and late register entries is rejected as implausible. Criminal acquittal does not, by itself, defeat separate fiscal adjudication because the two proceedings operate on different standards of proof. Personal penalty on a partner or proprietor, however, requires proof that he was in charge of and responsible for the conduct of the business at the relevant time; where the evidence shows retirement from active management and no contrary material is produced, the penalty cannot stand. Case-Laws Indian Laws Tue, 06 Aug 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=72115