https://www.taxtmi.com/caselaws?id=236678 Penalty under Section 4-B(5) of the Trade Tax Act was unsustainable where the assessee had voluntarily paid the differential tax and interest, made full disclosure, and no concealment, revenue loss or mens rea was shown. The Court noted that penalty proceedings are distinct from quantum proceedings, but they still require a substantive breach of the statutory condition and penal culpability. As the goods were ultimately used in the manufacture of finished goods sold within the State, initiation of penalty was found unjustified and was set aside. en-us Mon, 02 Sep 2013 00:00:00 +0530 Wed, 04 Sep 2013 13:25:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236678 Penalty under Section 4-B(5) of the Trade Tax Act was unsustainable where the assessee had voluntarily paid the differential tax and interest, made full disclosure, and no concealment, revenue loss or mens rea was shown. The Court noted that penalty proceedings are distinct from quantum proceedings, but they still require a substantive breach of the statutory condition and penal culpability. As the goods were ultimately used in the manufacture of finished goods sold within the State, initiation of penalty was found unjustified and was set aside. Case-Laws VAT and Sales Tax Mon, 02 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236678