https://www.taxtmi.com/caselaws?id=155119 Penalty for failure to deposit admitted sales tax within time depended on whether the assessee had reasonable cause for the default under section 15-A of the U.P. Sales Tax Act. The Tribunal accepted the assessee's financial difficulty on facts, noting a genuine business slump, reduced sales, declining bank credit, creditor pressure, and absence of mala fide intention. The Court treated financial difficulty as a relevant circumstance in some cases and distinguished situations involving diversion of collected tax or self-induced default. As no error of law was shown in the Tribunal's finding of lack of mala fides and tight financial position, the penalty was not interfered with. en-us Fri, 11 Aug 1978 00:00:00 +0530 Sat, 31 Aug 2013 15:27:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=155119 Penalty for failure to deposit admitted sales tax within time depended on whether the assessee had reasonable cause for the default under section 15-A of the U.P. Sales Tax Act. The Tribunal accepted the assessee's financial difficulty on facts, noting a genuine business slump, reduced sales, declining bank credit, creditor pressure, and absence of mala fide intention. The Court treated financial difficulty as a relevant circumstance in some cases and distinguished situations involving diversion of collected tax or self-induced default. As no error of law was shown in the Tribunal's finding of lack of mala fides and tight financial position, the penalty was not interfered with. Case-Laws VAT and Sales Tax Fri, 11 Aug 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=155119