HC upheld VAT penalty when dealer confessed that silver bar unearthed during survey wasn’t accounted

CST & VAT : Where Assessing Officer conducted survey upon assessee and found certain silver bar, which was not accounted for in account books, and thereupon assessee appeared before Assessing Officer and admitted that silver bar was neither accounted for in account books nor bill was available, Assessing Authority had rightly imposed penalty upon assessee under section 77(8)