Tax evasion is liable to be punished under criminal charges with substantial penalties

Tirupur Sree Annapoorna Vs Tamil Nadu Sales Tax Appellate Tribunal (Madras High Court) Madras High Court held that as taxes are the main source of income for the Government to concentrate on the welfare of the people, companies/firms/entities, which evade payment of tax are liable to be punished under criminal charges with substantial penalties. Facts- It was submitted by the Petitioner / Hotelier that they are into hotel business for several years and for the assessment year 1995-1996, a total taxable sales turnover of Rs.52,39,203/- and Rs. 12,064/- by way of returns in Form A1 was shown in ...