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2012 (1) TMI 150 - ALLAHABAD HIGH COURTPenalty u/s 15A(1)(o) of the U.P. Trade Tax Act, 1948 for the transactions made in the year 1994-95 Held that:- In this particular case, the Tribunal has not returned the findings that there was intention to evade the tax. On the other hand, the Tribunal has held that it is not necessary to establish mens rea in order to impose the penalty. The penalty, which has been imposed on the assessee, therefore, is not justified in the facts and circumstances of the case, which are that at the relevant time the assessee was an exempted unit and its final product was exempted and it was not liable to pay any tax at that time. The books of accounts of the assessee having been accepted at that stage also did not reflect any intention to evade any payment of tax. The penalty imposed, therefore, is not justified and it is deleted.
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