https://www.taxtmi.com/caselaws?id=163759 Loose purchase slips seized during survey revealed entries for deshi ghee and milk powder not recorded in the books of account, establishing specific concealment of turnover. On that factual basis, penalty under section 15A(1)(c) of the U.P. Trade Tax Act, 1948 was upheld. On quantum, the Court considered that the business was in its first year, the concealment was confined to a limited period, and the Tribunal had reduced the penalty to 100 per cent without stating any basis. The minimum penalty of 50 per cent of the concealed turnover was therefore held to be reasonable, and the penalty was reduced accordingly. en-us Fri, 11 Aug 2006 00:00:00 +0530 Wed, 09 Apr 2014 11:19:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=163759 Loose purchase slips seized during survey revealed entries for deshi ghee and milk powder not recorded in the books of account, establishing specific concealment of turnover. On that factual basis, penalty under section 15A(1)(c) of the U.P. Trade Tax Act, 1948 was upheld. On quantum, the Court considered that the business was in its first year, the concealment was confined to a limited period, and the Tribunal had reduced the penalty to 100 per cent without stating any basis. The minimum penalty of 50 per cent of the concealed turnover was therefore held to be reasonable, and the penalty was reduced accordingly. Case-Laws VAT and Sales Tax Fri, 11 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=163759