No penalty for mere reason that claims made under bonafide belief are found unsustainable in law

Apurva N. Mehta,  Advocate No penalty for concealment or furnishing inaccurate particulars merely for the reason that claims made under bonafide belief are found unsustainable in law – Gujarat VAT Tribunal The Gujarat Value Added Tax Tribunal in the case of Star Industries v/s The State of Gujarat (Second Appeal No. 347 of 2013 decided on 02.09.2014) has, in the context of penalty u/s 45(2)(c) of the Gujarat Sales Tax Act, 1969, held that where only under bonafide belief the appellant had failed to pay purchase tax u/s 15B on the transactions of branch transfer, it cannot be said that t...