https://www.taxtmi.com/caselaws?id=189300 Penalty for unrecorded stock was sustained where survey materials, the assessee's oath statement, and the contemporaneous reply showed that the goods had no bills or vouchers, were not entered in the books, and were kept with an intention to evade tax. The plea of coercion failed because there was no timely retraction, affidavit, or other acceptable material before the higher authorities. The later-produced documents were treated as additional evidence going to the root of the matter and could not be relied on without giving the Assessing Officer an opportunity to examine them, especially as they were inconsistent with the original statement and surrounding facts. The deletion of penalty was therefore unjustified. en-us Wed, 05 Oct 2016 00:00:00 +0530 Wed, 21 Mar 2018 18:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189300 Penalty for unrecorded stock was sustained where survey materials, the assessee's oath statement, and the contemporaneous reply showed that the goods had no bills or vouchers, were not entered in the books, and were kept with an intention to evade tax. The plea of coercion failed because there was no timely retraction, affidavit, or other acceptable material before the higher authorities. The later-produced documents were treated as additional evidence going to the root of the matter and could not be relied on without giving the Assessing Officer an opportunity to examine them, especially as they were inconsistent with the original statement and surrounding facts. The deletion of penalty was therefore unjustified. Case-Laws VAT and Sales Tax Wed, 05 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189300