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2014 (1) TMI 1614 - HC - VAT and Sales TaxReduction of penalty imposed by the assessing officer - Held that:- while exercising power of imposing and, thereupon, to quantify penalty, the Assessing Officer gave reasons to support exercise of power, but did not utter a single word, why it was imposing the highest penalty awardable under the law. it was obligatory on the part of the Assessing Officer to state the reasons, why he is exercising his discretion of imposing highest penalty permissible. He did not utter a single word in support thereof. First Appellate Authority refused to interfere and the Tribunal reduced the quantum of the penalty. - Decided against Revenue.
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