1977 (3) TMI 56 - AT - VAT and Sales Tax

Summary

The judgment by the Appellate Tribunal ITAT GWALIOR involved two second appeals under the M.P. General ST Act, 1958 against penalties imposed under s. 43(1) of the Act for financial years 1966-67 and 1967-68. The penalty for 1966-67 was reduced to Rs. 300 due to discrepancies in sales disclosed in returns and accounts, which were attributed to misclassification rather than suppression of sales. The penalty for 1967-68, imposed for discrepancies in adhat sales, was also set aside as there was no evidence of deliberate tax evasion. The appeals were allowed, and the order applied to related appeals.