https://www.taxtmi.com/caselaws?id=164098 Penalty for delivery of consigned stock-transfer goods before endorsement of the way-bill was justified because the VAT procedure required endorsement before delivery, and the goods had already been taken delivery of and disposed of before verification could occur. The Tribunal distinguished the earlier relied-on precedent on facts, noting that the present case involved non-compliance with the transport requirements and that setting aside the penalty entirely would undermine the statutory procedure. However, because the documents were produced suo motu soon after delivery and the circumstances warranted equitable consideration, the penalty was held excessive and reduced. en-us Fri, 25 Jan 2008 00:00:00 +0530 Thu, 17 Apr 2014 16:16:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=164098 Penalty for delivery of consigned stock-transfer goods before endorsement of the way-bill was justified because the VAT procedure required endorsement before delivery, and the goods had already been taken delivery of and disposed of before verification could occur. The Tribunal distinguished the earlier relied-on precedent on facts, noting that the present case involved non-compliance with the transport requirements and that setting aside the penalty entirely would undermine the statutory procedure. However, because the documents were produced suo motu soon after delivery and the circumstances warranted equitable consideration, the penalty was held excessive and reduced. Case-Laws VAT and Sales Tax Fri, 25 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=164098