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2010 (1) TMI 1116 - HC - VAT and Sales TaxWhether, on the facts and circumstances of the case, penalty under section 14B(7) of the Punjab General Sales Tax Act, 1948, was exigible? Held that:- In the absence of any cogent material and specific finding that there has been an attempt to avoid or evade the tax due or likely to be due, no penalty can be imposed on the assessee as contemplated under section 14B(7) of the Act. In favour of assessee.
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