https://www.taxtmi.com/caselaws?id=189296 Penalty under section 61 of the Rajasthan VAT Act is not justified where the assessee has fully disclosed turnover in its books and returns and the dispute concerns only the applicable rate of tax on the goods. The recorded transactions were accepted by the assessing authority, and there was no suppression of sales, concealment of records, or furnishing of inaccurate particulars. Because the rate issue was debatable and the assessee acted on a bona fide classification belief, the mere existence of a higher tax rate did not establish the ingredients required for penalty. en-us Tue, 29 Sep 2015 00:00:00 +0530 Thu, 05 Jan 2017 10:43:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189296 Penalty under section 61 of the Rajasthan VAT Act is not justified where the assessee has fully disclosed turnover in its books and returns and the dispute concerns only the applicable rate of tax on the goods. The recorded transactions were accepted by the assessing authority, and there was no suppression of sales, concealment of records, or furnishing of inaccurate particulars. Because the rate issue was debatable and the assessee acted on a bona fide classification belief, the mere existence of a higher tax rate did not establish the ingredients required for penalty. Case-Laws VAT and Sales Tax Tue, 29 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189296