https://www.taxtmi.com/caselaws?id=406296 Assessment based on records recovered during inspection, including purchases, bank entries and wage payments, was sustained where the dealer failed to produce accounts or rebut the prima facie inference of suppressed turnover. The Tribunal's estimate of turnover was therefore upheld. Penalty under Section 12(3)(b) of the Tamil Nadu General Sales Tax Act, 1959 was not sustained because there was no specific allegation or proper foundational material to justify the penal levy at the rate imposed. The assessment remained valid, but the penalty was annulled, giving the assessee only partial relief. en-us Thu, 25 Mar 2021 00:00:00 +0530 Sat, 10 Apr 2021 09:04:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406296 Assessment based on records recovered during inspection, including purchases, bank entries and wage payments, was sustained where the dealer failed to produce accounts or rebut the prima facie inference of suppressed turnover. The Tribunal's estimate of turnover was therefore upheld. Penalty under Section 12(3)(b) of the Tamil Nadu General Sales Tax Act, 1959 was not sustained because there was no specific allegation or proper foundational material to justify the penal levy at the rate imposed. The assessment remained valid, but the penalty was annulled, giving the assessee only partial relief. Case-Laws VAT and Sales Tax Thu, 25 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406296