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2017 (1) TMI 127 - HC - VAT and Sales TaxImposition of penalty u/s 77(8) of the RST Act, 1994 - unaccounted stock - whether a voluntary statement can be contested later? - Held that: - if there is voluntary statement and not complained of to the higher authorities within a reasonable period, such a fact cannot be accepted in appellate proceeding later on and after a considerable long period - the order of Tax Board is not sustainable and is required to be interfered and is accordingly interfered and the finding reached by the AO and DC(A) is just and proper and is accordingly sustained, and thus the penalty was rightly levied - petition allowed - decided in favor of petitioner.
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