https://www.taxtmi.com/caselaws?id=157517 Tax and interest on disputed sales could be sustained only if the assessee proved prior tax payment or sufficient tax-paid stock on the relevant date; without such proof, the assessing authority could levy tax and interest, and the factual position required fresh determination on remand. Penalty was not justified where the transactions were recorded in the books and no mala fide intention was found, because the absence of mens rea weighed against penal action. The revisional challenge therefore succeeded only in part: the tax and interest issue was reopened, while deletion of penalty remained undisturbed. en-us Mon, 22 Jun 1992 00:00:00 +0530 Mon, 07 Oct 2013 15:18:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=157517 Tax and interest on disputed sales could be sustained only if the assessee proved prior tax payment or sufficient tax-paid stock on the relevant date; without such proof, the assessing authority could levy tax and interest, and the factual position required fresh determination on remand. Penalty was not justified where the transactions were recorded in the books and no mala fide intention was found, because the absence of mens rea weighed against penal action. The revisional challenge therefore succeeded only in part: the tax and interest issue was reopened, while deletion of penalty remained undisturbed. Case-Laws VAT and Sales Tax Mon, 22 Jun 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=157517