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2024 (3) TMI 1273 - ALLAHABAD HIGH COURTQuantum of penalty - Demand of penalty at the higher rate being 100 percent of the value of the goods under Section 129(1)(b) of the U.P. G.S.T. Act, 2017 - HELD THAT:- On query made, learned counsel for the revenue has made a fair statement, it cannot be doubted, the petitioner is the bona-fide owner of the goods. Accordingly, the penalty order is modified to the extent penalty imposed. Quantum is reduced in terms of provisions of Section 129(1)(a) of the Act i.e. equal to twice the amount of tax imposed on the value of the goods, as estimated by the revenue authorities. The writ petition stands disposed of.
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