https://www.taxtmi.com/caselaws?id=164565 Substantial suppression of turnover established from seized records and the assessee's failure to produce accounts justified restoration of the assessment and levy of maximum penalty for wilful suppression. The Tribunal found that the omission of turnover, incorrect disclosure of purchases, and misclassification of first sales as second sales supported taxation of the entire difference in net purchase value and related taxable turnover. Those findings were treated as factual and supported by the record, so no interference was warranted and the assessment and penalty were sustained. en-us Fri, 07 Aug 2009 00:00:00 +0530 Mon, 03 Nov 2014 15:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=164565 Substantial suppression of turnover established from seized records and the assessee's failure to produce accounts justified restoration of the assessment and levy of maximum penalty for wilful suppression. The Tribunal found that the omission of turnover, incorrect disclosure of purchases, and misclassification of first sales as second sales supported taxation of the entire difference in net purchase value and related taxable turnover. Those findings were treated as factual and supported by the record, so no interference was warranted and the assessment and penalty were sustained. Case-Laws VAT and Sales Tax Fri, 07 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=164565