https://www.taxtmi.com/caselaws?id=368551 Excess stock of semi-finished gutkha found during inspection justified penalty under the Karnataka Value Added Tax Act, 2003 because the assessee contemporaneously admitted the stock discrepancy, accepted the notice, expressed willingness to pay, and in fact paid the penalty by cheque. On that record, the Court held that the assessee could not later challenge the penalty for alleged want of opportunity or improper stock verification. The Appellate Authority was found to have ignored material evidence, while the Revisional Authority validly exercised suo motu jurisdiction and restored the original penalty order. en-us Fri, 07 Sep 2018 00:00:00 +0530 Wed, 13 Nov 2019 14:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368551 Excess stock of semi-finished gutkha found during inspection justified penalty under the Karnataka Value Added Tax Act, 2003 because the assessee contemporaneously admitted the stock discrepancy, accepted the notice, expressed willingness to pay, and in fact paid the penalty by cheque. On that record, the Court held that the assessee could not later challenge the penalty for alleged want of opportunity or improper stock verification. The Appellate Authority was found to have ignored material evidence, while the Revisional Authority validly exercised suo motu jurisdiction and restored the original penalty order. Case-Laws VAT and Sales Tax Fri, 07 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368551