https://www.taxtmi.com/caselaws?id=159145 Penalty for alleged suppression of turnover was found unsustainable where the assessment order itself showed that the reported turnover tallied with the books of account, apart from a minor rounding difference of Rs. 3. The assessing officer failed to satisfactorily explain the alleged suppression figure of Rs. 3,56,161, and the basis for reaching that amount was found erroneous. As the factual foundation for levy of penalty was absent, the penalty was unjustifiable and the Tribunal's decision to set it aside was upheld. en-us Wed, 17 Dec 1997 00:00:00 +0530 Sat, 16 Nov 2013 14:20:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=159145 Penalty for alleged suppression of turnover was found unsustainable where the assessment order itself showed that the reported turnover tallied with the books of account, apart from a minor rounding difference of Rs. 3. The assessing officer failed to satisfactorily explain the alleged suppression figure of Rs. 3,56,161, and the basis for reaching that amount was found erroneous. As the factual foundation for levy of penalty was absent, the penalty was unjustifiable and the Tribunal's decision to set it aside was upheld. Case-Laws VAT and Sales Tax Wed, 17 Dec 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=159145