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2012 (4) TMI 547 - UTTARAKHAND HIGH COURTPenalty levy - revision application - Held that:- Tribunal has not given any reason in its order as to why for the first default the penalty would be of ten per cent of the tax deducted and, why such penalty will increase by five per cent for every subsequent default committed in every subsequent months. Furthermore, there is no pronouncement as to whether penalty is at all leviable in respect of deduction made, but deposited beyond the time specified. In the circumstances, we interfere with the judgments and orders of the Tribunal under revisions and set aside the same and, remit back the matter to the Tribunal for consideration whether penalty is at all leviable in case where deductions made have been deposited, but belatedly and, if so, whether penalty imposable for such a crime can be equated with the crime of not deducting or with not depositing after deduction; as well as what should be the rational penalty to be imposed for delay in depositing deducted tax with reasons in support thereof
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