Madras HC Grants Taxpayer Opportunity subject to remittance of 5% penalty

Tvl. Shriniwas Impex Vs State Tax Officer (Madras High Court) The recent judgment by the Madras High Court in the case of Tvl. Shriniwas Impex versus the State Tax Officer has significant implications for taxpayers. Despite facing penalties and lacking crucial documentation like E-way bills or lorry receipts, the court has granted an opportunity for contestation. The petitioner, engaged in metal scrap trading, faced surprise inspections by the State Tax Department in 2022. Subsequently, penalties were imposed based on alleged intermediary involvement in bill trading transactions. The petitione...