https://www.taxtmi.com/caselaws?id=189338 Penalty for carrying admitted unaccounted stock was sustained because the assessee failed to produce books of account, bills, vouchers or builty despite ample opportunity, and a later affidavit was treated as a self-serving statement with little evidentiary value. The court also rejected the plea of violation of rule 50, holding that the record supported stock verification in the presence of witnesses and acceptance of valuation at the spot. On these facts, the Tax Board's deletion of penalty was unsustainable and the penalty order was restored. en-us Wed, 22 May 2013 00:00:00 +0530 Mon, 30 Jan 2017 08:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189338 Penalty for carrying admitted unaccounted stock was sustained because the assessee failed to produce books of account, bills, vouchers or builty despite ample opportunity, and a later affidavit was treated as a self-serving statement with little evidentiary value. The court also rejected the plea of violation of rule 50, holding that the record supported stock verification in the presence of witnesses and acceptance of valuation at the spot. On these facts, the Tax Board's deletion of penalty was unsustainable and the penalty order was restored. Case-Laws VAT and Sales Tax Wed, 22 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189338