TMI BlogLevy of penalty u/s 54(1)(2) of the U.P. VAT Act, 2008 - men-rea - The Court concluded that mens rea is...Levy of penalty u/s 54(1)(2) of the U.P. VAT Act, 2008 - men-rea - The Court concluded that mens rea is indeed an essential prerequisite for imposing a penalty under this provision. - The Court held that penalties could not be imposed on the basis of a best judgement assessment. Such assessments are essentially grounded on reasonable guesses or estimates and do not inherently prove any willful attempt to evade taxes. Without explicit evidence of a deliberate action to avoid tax payments, the imposition of penalties is unjustified. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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