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2011 (2) TMI 1307 - HC - VAT and Sales TaxWhether, in the facts and circumstances of the case, the Tribunal is correct in fixing the ratio at the rate of 50:50, which is against the accounts produced by the assessee ? Whether in the facts and circumstances of the case, the Tribunal is right in sustaining the penalty in respect of estimated addition in view of Explanation to section 12(3)(b), which provides for deduction of tax due on the estimated turnover for the purpose of calculating penalty? Held that:- Part of the order of the Appellate Assistant Commissioner in altering the ratio from 35:65 for other brasswares and domestic utensils to 50:50 cannot be justified, inasmuch as the same was without any legally acceptable material. As far as the levy of penalty is concerned when the statutory provision providing for imposition of penalty under section 12(3)(b) read along with Explanation (1) does not contemplate levy of penalty, the penalty imposed by the assessing officer and sustained by the appellate authority cannot be sustained. In favour of assessee.
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