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2014 (11) TMI 421 - KERALA HIGH COURTSimultaneous penalty u/s 76 & 78 - Re calculation of demand - Held that:- While passing Ext. P3, found it necessary to have recalculation to appropriate extent, based on the contentions taken from the part of the assessee, which admittedly is not done so far. To what extent the said quantification is necessary or will it absolve the petitioner from the liability, is the next point to be considered. The total liability to be satisfied by the petitioner as per the relevant provision is the actual extent of tax, plus penalty under Section 76 which is an equal amount, besides penalty under Section 78, which is of another equal extent. By virtue of the nature of dispute and even going by the admission from the part of the petitioner, the liability to be satisfied by the petitioner is ₹ 14,88,486/-. The total liability to be cleared by the petitioner is three times, less the amount if any, satisfied. - Petition disposed of.
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