ASHWANI KUMAR MISHRA,J. - (1.) Rejoinder affidavit filed today is taken on record.
(2.) The assessee is Government of India undertaking, which is aggrieved by imposition of penalty under Section 48 (5) of the U.P. Value Added Tax Act, as affirmed by the Tribunal. It is not in issue that penalty under Section 48(5) can be levied, if the transaction is not accounted for in the books of account with an intent to evade payment of tax.
(3.) The Tribunal, in the facts of the present case, has observed that the books of account were not presented before it. However, the order imposing penalty clearly shows that relevant records were produced before the concerned authority, and that it was discarded only on the ground that the same were photocopies.;