https://www.taxtmi.com/caselaws?id=167794 Penalty under section 12(3) of the Tamil Nadu General Sales Tax Act, 1959 could not be sustained unless the authority recorded a finding of lack of bona fides or wilful suppression; a mere discrepancy between the return and the accounts was insufficient. The Tribunal restored the penalty only on the basis of suppression and best judgment assessment, without examining the assessee's bona fides, while the record showed disclosure of the relevant entries in the books and partial deletion of turnover. On that footing, the restored penalty was set aside and relief was granted to the assessee. en-us Thu, 24 Nov 2011 00:00:00 +0530 Thu, 01 Jan 2015 22:09:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=167794 Penalty under section 12(3) of the Tamil Nadu General Sales Tax Act, 1959 could not be sustained unless the authority recorded a finding of lack of bona fides or wilful suppression; a mere discrepancy between the return and the accounts was insufficient. The Tribunal restored the penalty only on the basis of suppression and best judgment assessment, without examining the assessee's bona fides, while the record showed disclosure of the relevant entries in the books and partial deletion of turnover. On that footing, the restored penalty was set aside and relief was granted to the assessee. Case-Laws VAT and Sales Tax Thu, 24 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=167794