https://www.taxtmi.com/caselaws?id=357516 The Madras HC declined to interfere in revision because the Tribunal's factual findings were not shown to be perverse or unsupported by evidence. On input tax credit, the Tribunal accepted the correlation between interstate purchases and interstate sales without C forms, and that appreciation of stock and sale statements was upheld. On penalty, the Tribunal held that stock variation by itself did not prove wilful suppression and, absent wilfulness, penalty could not be sustained. The revision therefore failed and the Tribunal's orders were maintained. en-us Wed, 14 Mar 2018 00:00:00 +0530 Sat, 24 Mar 2018 08:39:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357516 The Madras HC declined to interfere in revision because the Tribunal's factual findings were not shown to be perverse or unsupported by evidence. On input tax credit, the Tribunal accepted the correlation between interstate purchases and interstate sales without C forms, and that appreciation of stock and sale statements was upheld. On penalty, the Tribunal held that stock variation by itself did not prove wilful suppression and, absent wilfulness, penalty could not be sustained. The revision therefore failed and the Tribunal's orders were maintained. Case-Laws VAT and Sales Tax Wed, 14 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357516