https://www.taxtmi.com/caselaws?id=127094 An exchange of finished silver articles for silver of equivalent weight plus manufacturing charges was treated as a sale because the Madras General Sales Tax Act, 1939 defined sale broadly to include transfers for valuable consideration beyond cash alone; the transaction was therefore taxable and not a mere barter. A knowingly filed return that omitted the value of the silver was held to be wilful under Section 15(a), since wilfulness excludes accident, inadvertence, and honest mistake, even where the omission stems from a mistaken view of law; the penal consequence was sustained. en-us Fri, 16 Jan 1948 00:00:00 +0530 Tue, 26 Feb 2013 11:16:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=127094 An exchange of finished silver articles for silver of equivalent weight plus manufacturing charges was treated as a sale because the Madras General Sales Tax Act, 1939 defined sale broadly to include transfers for valuable consideration beyond cash alone; the transaction was therefore taxable and not a mere barter. A knowingly filed return that omitted the value of the silver was held to be wilful under Section 15(a), since wilfulness excludes accident, inadvertence, and honest mistake, even where the omission stems from a mistaken view of law; the penal consequence was sustained. Case-Laws VAT and Sales Tax Fri, 16 Jan 1948 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=127094