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2014 (5) TMI 610 - HC - VAT and Sales TaxLevy of Penalty - Deletion of penalty u/s 12(3)(b) of the TNGST Act - Whether Tribunal in affirming the deletion of penalty under Section 12(3)(b) of the Tamil Nadu General Sales Tax Act is legally sustainable in view of the amendment of Section 12(3) under Act 25 of 1993 – Best of judgment – Assessment based on Best of judgment - Bonafide of the assessee - Held That:- Judgment in Cement Marketing Company of India Vs. Assistant Commissioner of Sales Tax [1979 (10) TMI 184 - SUPREME COURT OF INDIA] followed - Section 12(3) would operate only in the case of best of judgement assessment, whereby the returns filed by the assessee appears to the Assessing Authority to be incomplete or incorrect - It was held that in the case on hand there was no best of judgement assessment and hence the levy of penalty was set aside - Relying upon Appollo Saline Pharmaceuticals Private Limited Vs. Commercial Tax Officer (SAC) and others [2001 (10) TMI 1100 - MADRAS HIGH COURT] - Penalty may be levied only in case where the assessment is best of judgement assessment – The addition was only as regards the gross profit and freight and there was no suppression found in the turnover, otherwise - No sufficient cause or reason is found to set aside the order of the Tribunal - Hence, Revision stands dismissed – Decided in favour of Revenue.
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