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2010 (2) TMI 1079 - HC - VAT and Sales TaxWhether the Sales Tax Appellate Tribunal is right in holding that penalty is leviable under section 16(2) of the Tamil Nadu General Sales Tax Act, 1959 for the assessment year 1994-95 since the taxability or otherwise of sale of REP licence was ultimately settled by the Supreme Court only in the year Vikas Sales Corporation v. Commissioner of Commercial Taxes [1996 (5) TMI 363 - SUPREME COURT OF INDIA]? Held that:- Levying of penalty by the assessing officer under section 16(2) of the Act is not justified. The Tribunal has correctly held that the levy of penalty is not justified and therefore deleted penalty. We do not find any error of law or illegality in the order passed by the Tribunal warranting interference. The finding given by the Tribunal is based on valid materials and evidence and it is a question of fact. It is not a perverse order. Therefore, we confirm the order of the Tribunal and answer the question of law in favour of the assessee and as against the Revenue.
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