https://www.taxtmi.com/caselaws?id=462128 Penalty under Section 129(3) of the Uttar Pradesh GST Act could not be sustained where the goods movement was accepted as a stock transfer. Because no tax liability arose on that factual basis, the element of intent to evade tax was absent and the statutory foundation for penalty did not exist. The penalty was therefore held to be unsustainable and liable to be set aside. en-us Wed, 10 Apr 2024 00:00:00 +0530 Mon, 26 May 2025 21:50:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462128 Penalty under Section 129(3) of the Uttar Pradesh GST Act could not be sustained where the goods movement was accepted as a stock transfer. Because no tax liability arose on that factual basis, the element of intent to evade tax was absent and the statutory foundation for penalty did not exist. The penalty was therefore held to be unsustainable and liable to be set aside. Case-Laws GST Wed, 10 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462128