https://www.taxtmi.com/caselaws?id=364396 Under the Kerala VAT self-assessment regime, the assessee remains bound to prove that no penalty is attracted where statutory default is alleged; the burden under the Explanation to Section 67 was not discharged for the cancelled issue voucher of gold, so deletion of that penalty was unsustainable. In relation to the sale of fixed assets, mere reflection of the transaction in the books of account did not cure the omission from the return or negate the incorrect return, so penalty remained payable. Later payment of tax and interest was relevant only to the quantum, and the penalty was reduced to the amount of tax sought to be evaded. en-us Tue, 05 Jun 2018 00:00:00 +0530 Sun, 29 Jul 2018 11:48:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364396 Under the Kerala VAT self-assessment regime, the assessee remains bound to prove that no penalty is attracted where statutory default is alleged; the burden under the Explanation to Section 67 was not discharged for the cancelled issue voucher of gold, so deletion of that penalty was unsustainable. In relation to the sale of fixed assets, mere reflection of the transaction in the books of account did not cure the omission from the return or negate the incorrect return, so penalty remained payable. Later payment of tax and interest was relevant only to the quantum, and the penalty was reduced to the amount of tax sought to be evaded. Case-Laws VAT and Sales Tax Tue, 05 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364396