https://www.taxtmi.com/caselaws?id=360720 Penalty under the Tamil Nadu General Sales Tax Act, 1959 was considered unsustainable where the turnover was already reflected in the books of accounts and the revenue failed to establish concealment or suppression. The scheme of Section 12(3)(b) applies to assessments based on incorrect or incomplete returns, but not where the assessment is drawn from accepted account books rather than a best judgment estimate. The explanation to Section 12(3)(b) also supported exclusion of disclosed turnover, and a bona fide belief further negatived penal liability. en-us Thu, 19 Apr 2018 00:00:00 +0530 Tue, 22 May 2018 07:52:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360720 Penalty under the Tamil Nadu General Sales Tax Act, 1959 was considered unsustainable where the turnover was already reflected in the books of accounts and the revenue failed to establish concealment or suppression. The scheme of Section 12(3)(b) applies to assessments based on incorrect or incomplete returns, but not where the assessment is drawn from accepted account books rather than a best judgment estimate. The explanation to Section 12(3)(b) also supported exclusion of disclosed turnover, and a bona fide belief further negatived penal liability. Case-Laws VAT and Sales Tax Thu, 19 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360720