https://www.taxtmi.com/caselaws?id=157351 Concurrent findings that the dealer failed to maintain true and complete accounts were sustained because the stock variations and notebook entries were supported by material on record and showed no perversity or legal infirmity. The penalty could not be treated as one for tax evasion, since the petroleum products were sold under a single-point levy and liability attached to the first sale by the oil company, not the dealer. The matter therefore fell under the latter part of section 45A(1), limiting penalty to the statutory ceiling for accounting default. The penalty orders were set aside and remitted for fresh determination within that ceiling. en-us Fri, 03 Jun 1994 00:00:00 +0530 Fri, 04 Oct 2013 14:24:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=157351 Concurrent findings that the dealer failed to maintain true and complete accounts were sustained because the stock variations and notebook entries were supported by material on record and showed no perversity or legal infirmity. The penalty could not be treated as one for tax evasion, since the petroleum products were sold under a single-point levy and liability attached to the first sale by the oil company, not the dealer. The matter therefore fell under the latter part of section 45A(1), limiting penalty to the statutory ceiling for accounting default. The penalty orders were set aside and remitted for fresh determination within that ceiling. Case-Laws VAT and Sales Tax Fri, 03 Jun 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=157351