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2010 (4) TMI 998 - HC - VAT and Sales TaxWhether the penalty under section 14B(7) of the Act was exigible or not? Held that:- In the absence of any cogent material and specific finding that the documents produced at ICC were fake and were not genuine and that there has been an attempt to avoid or evade the tax, no penalty can legally be imposed on the assessee as contemplated under section 14B(7) of the Act. The contrary argument on behalf of the State "stricto sensu" deserves to be and are hereby repelled as the aforesaid judgments are the complete answer to the problem in hand. Thus it is held that on the facts and circumstances of the case, penalty under section 14B(7) of the Act cannot be imposed and the Tribunal was not justified in upholding the same. In favour of assessee.
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