Penalty Imposed for Willful Tax Underreporting Under AP VAT Act Section 53(3); Differentiates from Bona Fide Errors.

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....Imposition of penalty under Section 53(3) of AP VAT - under reporting of taxable turnover - While a bonafide error would fall within the ambit of Section 53(1) of the Act, wilful or intentional under-declaration of tax would fall within the scope of Section 53(3) - HC....