https://www.taxtmi.com/caselaws?id=164709 Where imported goods were fully disclosed in the assessee's books and those books were accepted in assessment, no inference of tax evasion could be drawn merely because the goods were received without form XXXI. As the penalty order also recorded no finding of intention to evade tax, the assessee had a strong prima facie case against recovery during the appeal. The Tribunal's condition requiring deposit of five per cent of the penalty amount as a precondition for stay was therefore unsustainable, and the recovery condition was set aside with stay granted pending the first appeal. en-us Tue, 27 Jan 2009 00:00:00 +0530 Wed, 19 Nov 2014 12:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=164709 Where imported goods were fully disclosed in the assessee's books and those books were accepted in assessment, no inference of tax evasion could be drawn merely because the goods were received without form XXXI. As the penalty order also recorded no finding of intention to evade tax, the assessee had a strong prima facie case against recovery during the appeal. The Tribunal's condition requiring deposit of five per cent of the penalty amount as a precondition for stay was therefore unsustainable, and the recovery condition was set aside with stay granted pending the first appeal. Case-Laws VAT and Sales Tax Tue, 27 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=164709