The High Court addressed penalty u/s 43 of the Value Added Tax ...

The court upheld the penalty u/s 43 of VAT Act. No evasion of tax can escape penalty due to non-production of account books.

Case Laws VAT and Sales Tax

June 22, 2024

The High Court addressed penalty u/s 43 of the Value Added Tax Act for unrecorded transactions. The Tribunal found Mobile Unit did not enter trader's premises for business activities, so no violation u/s 43(3) occurred. Assessee claimed family dispute led to keeping accounts at home, but provided no evidence. Counsel argued assessment order showed no VAT Act contravention, seeking penalty reduction to 20% from 40%. Court held evasion of tax without maintaining account books for goods entry in truck doesn't excuse penalty. As revisionist paid penalty under protest, no basis to reduce it. Court upheld Tribunal's decision, dismissing the revision.

View Source

← Previous Next →

The High Court addressed penalty u/s 43 of the Value Added Tax ...

The court upheld the penalty u/s 43 of VAT Act. No evasion of tax can escape penalty due to non-production of account books.

Case Laws VAT and Sales Tax

June 22, 2024

You may also like:

Penalty u/s 271A - Non maintaining the books of account - Penalty u/s 271B - non-audit of books of accounts - It is clearly a case of impossibility of performance where...

Penalty u/s. 271A and 271B - non-maintenance of books of account and not getting the books of accounts audited u/s. 44AB recpectivily - once the penalty is levied for...

Dishonor of Cheque - burden of proof on complainant to establish his case - rebuttal of presumption - In the present case non filing or production of books of accounts...

Penalty u/s 271B - non maintenance of books off account by the taxpayer as a civil contractor - no books of accounts prescribed - penalty deleted - AT

The ITAT considered a case involving Penalty u/s 271B for not auditing books as per section 44AB. The Assessee argued books were not updated by the due date for audit...

Penalty u/s 271A and u/s 271B - not maintaining books of account and for not getting the booking of account audited as provided u/s 44AB - Penalties levied u/s 271A for...

Rejection of books of accounts - best judgement assessment - only objection raised by the AO is non-filing of the tax audit report - CIT- A deleting the addition -...

Penalty u/s 43 of the Black Money (Undisclosed Foreign Income & Assets) and Imposition of Tax Act 2015 (BMA) - Even before the bank account was detected by the revenue...

Levy of penalty u/s. 271B - The infraction of Section 44AB gets attracted only when the assessee maintains the books of accounts but fail to get them audited - no reason...

Penalty u/s 271B - non-audit of books of account - if a person has not maintained the accounts book or any accounts the question of its audit does not arise and in such...

Penalty levied u/s 271B - not getting accounts Audited within the due date specified u/s 44AB - It was established that the appellant did not maintain the books of...

Levy of penalty u/s 54(1)(14) - no papers were produced despite the fact that goods were being imported from outside the State - There is always apprehension that in...

Penalty u/s 271B - the books of account of the Assessee have also been audited only on 30.09.2011, however it seems that somehow due to inadvertent or otherwise mistake...

Black money - levy of penalty - undisclosed investment in foreign entity - No doubt the Schedule “FA” and BMI Act, have been introduced and enacted for checking the...

Rejection of books of accounts - Estimation of income - The case laws relied upon by the ld. AR are not applicable as per facts of the present case, therefore,...

Quick Updates: