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2017 (4) TMI 1322 - HC - VAT and Sales TaxPenalty u/s 34 [12] of the VAT Act - Tribunal has deleted the said penalty levied though the learned Tribunal confirmed the levy of tax under Entry 87 of Schedule-II to the VAT Act and also confirmed the interest - whether in the facts and circumstances of the case, the learned Tribunal is justified in deleting the penalty levied u/s 34 [12] of the VAT Act? Held that: - the levy of penalty under Section 34 [12] of the VAT Act is mandatory, once it is found that in the case of a dealer, the amount of tax assessed for any period or reassessed for any period under Section 35 exceeds the amount of tax already paid under sub-sections (1), (2) or (3) of Section 30 by the dealer in respect of such period by more than twenty five per cent of the amount of the tax so paid, there shall be levied on such dealer a penalty not exceeding one and one-half times the difference between the tax paid under section 30 and the amount so assessed or reassessed. The learned Tribunal has materially erred in deleting the penalty under Section 34 [12] of the Act - petition allowed - decided in favor of Revenue.
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