https://www.taxtmi.com/caselaws?id=767039 The HC dismissed the O.T. Revision filed by the State, upholding the appellate tribunal's decision to reduce the penalty imposed on the assessee from Rs. 16,32,040 to Rs. 10,000. The Court found that the jewellery seized was for hallmarking, not sale, and there was no evidence of tax evasion or suppression of turnover affecting the assessee's tax liability. The tribunal's decision was deemed appropriate, and no substantial grounds were presented for interference, resulting in a ruling favoring the assessee. en-us Mon, 03 Mar 2025 00:00:00 +0530 Mon, 10 Mar 2025 08:42:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767039 The HC dismissed the O.T. Revision filed by the State, upholding the appellate tribunal's decision to reduce the penalty imposed on the assessee from Rs. 16,32,040 to Rs. 10,000. The Court found that the jewellery seized was for hallmarking, not sale, and there was no evidence of tax evasion or suppression of turnover affecting the assessee's tax liability. The tribunal's decision was deemed appropriate, and no substantial grounds were presented for interference, resulting in a ruling favoring the assessee. Case-Laws VAT / Sales Tax Mon, 03 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767039