Section 10(7) in Punjab General Sales Tax Act, 1948
(7)If a dealer has maintained false or incorrect accounts with a view to suppressing his sales, purchases or stock of goods or has concealed any particulars of his sales or purchases or has furnished to, or produced before, any authority under this Act or the rules made thereunder any account, return or information which is false or incorrect in any material particular, the Commissioner or any person appointed to assist him under sub-section (1) of section 3 may, after affording such dealer a reasonable opportunity of being heard, direct him to pay, by way of penalty in addition to the tax to which he is assessed or is liable to be assessed, [a sum not exceeding two times but no less than fifty percentum] [Substituted for the words 'a sum not exceeding one and half times but not less than twenty-five per centum' by Punjab Act 1 of 1994 w.e.f. 29.9.1993.] of the amount of tax to which he has been assessed or is liable to be assessed excluding the amount to which he has been assessed or is liable to be assessed on the basis of the aforesaid false or incorrect accounts or concealed particulars or false or incorrect account, return or information.
