https://www.taxtmi.com/caselaws?id=161318 The Appellate Tribunal's decision to allocate suppressed turnover in a 50:50 ratio was overturned as unjustified due to lack of alignment with precedent. Additionally, the deletion of the penalty of 50% of tax due on actual suppression was restored, emphasizing that the inability to explain transactions should not exempt from penalties. The Appellate Assistant Commissioner's decision on both issues was ultimately upheld, allowing the tax revision case filed by the Revenue. en-us Mon, 16 Apr 2001 00:00:00 +0530 Tue, 14 Jan 2014 16:47:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=161318 The Appellate Tribunal's decision to allocate suppressed turnover in a 50:50 ratio was overturned as unjustified due to lack of alignment with precedent. Additionally, the deletion of the penalty of 50% of tax due on actual suppression was restored, emphasizing that the inability to explain transactions should not exempt from penalties. The Appellate Assistant Commissioner's decision on both issues was ultimately upheld, allowing the tax revision case filed by the Revenue. Case-Laws VAT and Sales Tax Mon, 16 Apr 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=161318