https://www.taxtmi.com/caselaws?id=391326 The Supreme Court upheld the Tribunal's decision in Writ Petitions concerning branch transfers under the Central Sales Tax Act. It emphasized the importance of factual verification in distinguishing between direct sales and stock transfers to branches. The judgment addressed taxable turnover and exemption claims, setting aside penalties imposed by the Assessing Authority due to the lack of a bonafide belief. It concluded that penalties cannot be justified when turnovers are properly accounted for and disclosed. The Court dismissed the Revenue's petitions, affirming the Tribunal's findings without costs. en-us Tue, 07 Jan 2020 00:00:00 +0530 Sat, 25 Jan 2020 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391326 The Supreme Court upheld the Tribunal's decision in Writ Petitions concerning branch transfers under the Central Sales Tax Act. It emphasized the importance of factual verification in distinguishing between direct sales and stock transfers to branches. The judgment addressed taxable turnover and exemption claims, setting aside penalties imposed by the Assessing Authority due to the lack of a bonafide belief. It concluded that penalties cannot be justified when turnovers are properly accounted for and disclosed. The Court dismissed the Revenue's petitions, affirming the Tribunal's findings without costs. Case-Laws VAT and Sales Tax Tue, 07 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391326