https://www.taxtmi.com/caselaws?id=189379 A contemporaneous admission during survey that excess stock was found carried evidentiary value, and the assessee failed to displace it with a credible explanation. The later retraction, supported by an affidavit alleging coercion, was rejected because it was made after a long delay and was not backed by immediate complaint or convincing material. The additional affidavit could not properly be relied on at the appellate stage without affording the Assessing Officer an opportunity to respond. On that basis, the deletion of penalty by the appellate authorities was unsustainable and the Assessing Officer's penalty was upheld. en-us Mon, 03 Oct 2016 00:00:00 +0530 Wed, 14 Feb 2018 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189379 A contemporaneous admission during survey that excess stock was found carried evidentiary value, and the assessee failed to displace it with a credible explanation. The later retraction, supported by an affidavit alleging coercion, was rejected because it was made after a long delay and was not backed by immediate complaint or convincing material. The additional affidavit could not properly be relied on at the appellate stage without affording the Assessing Officer an opportunity to respond. On that basis, the deletion of penalty by the appellate authorities was unsustainable and the Assessing Officer's penalty was upheld. Case-Laws VAT and Sales Tax Mon, 03 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189379