https://www.taxtmi.com/caselaws?id=244699 Penalty under Section 12(5)(iii) of the Tamil Nadu General Sales Tax Act was held unsustainable where the disputed turnover had been recorded in the books and disclosed in the return under the exemption column. The court treated the disclosure as inconsistent with suppression, especially because the assessee had earlier contested tax liability and later paid tax only after that challenge failed. Bona fide belief that the turnover was not taxable was given weight, and the levy of penalty was set aside. en-us Thu, 09 Jun 2011 00:00:00 +0530 Sat, 27 Sep 2014 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244699 Penalty under Section 12(5)(iii) of the Tamil Nadu General Sales Tax Act was held unsustainable where the disputed turnover had been recorded in the books and disclosed in the return under the exemption column. The court treated the disclosure as inconsistent with suppression, especially because the assessee had earlier contested tax liability and later paid tax only after that challenge failed. Bona fide belief that the turnover was not taxable was given weight, and the levy of penalty was set aside. Case-Laws VAT and Sales Tax Thu, 09 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244699