https://www.taxtmi.com/caselaws?id=158645 Inspection records revealed transactions outside the books, supporting an inference of suppressed first sales. The appellate authority had already restricted the estimated turnover and reduced the penalties, including by applying a 50:50 approach to the nature of the transactions. As the record did not displace those findings or show absence of suppression, the sustained estimates of turnover and the reduced penalties remained supported by the evidence and the applicable penalty provision, and the Tribunal's confirmation was upheld. en-us Thu, 19 Oct 1995 00:00:00 +0530 Sat, 02 Nov 2013 14:26:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=158645 Inspection records revealed transactions outside the books, supporting an inference of suppressed first sales. The appellate authority had already restricted the estimated turnover and reduced the penalties, including by applying a 50:50 approach to the nature of the transactions. As the record did not displace those findings or show absence of suppression, the sustained estimates of turnover and the reduced penalties remained supported by the evidence and the applicable penalty provision, and the Tribunal's confirmation was upheld. Case-Laws VAT and Sales Tax Thu, 19 Oct 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=158645