https://www.taxtmi.com/caselaws?id=345469 The court addressed challenges against assessment and penalty orders in two writ petitions involving an individual petitioner and a partnership firm for alleged suppression of purchase turnover. The assessing authority completed assessments despite self-disclosure by the individual petitioner and directed revisions to ensure accurate tax assessment. Penalties imposed were based on a Supreme Court precedent, with the penalty for the partnership firm being reduced in accordance with legal interpretation. The judgment underscores statutory obligations, self-disclosure importance, assessment procedures, and penalty imposition criteria guided by legal precedents. en-us Thu, 01 Jun 2017 00:00:00 +0530 Fri, 31 Aug 2018 17:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345469 The court addressed challenges against assessment and penalty orders in two writ petitions involving an individual petitioner and a partnership firm for alleged suppression of purchase turnover. The assessing authority completed assessments despite self-disclosure by the individual petitioner and directed revisions to ensure accurate tax assessment. Penalties imposed were based on a Supreme Court precedent, with the penalty for the partnership firm being reduced in accordance with legal interpretation. The judgment underscores statutory obligations, self-disclosure importance, assessment procedures, and penalty imposition criteria guided by legal precedents. Case-Laws VAT and Sales Tax Thu, 01 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345469