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2014 (9) TMI 872 - MADRAS HIGH COURTReversal of the claim of Input Tax Credit - penalty under Sections 27(4)(i) and 27(3)(a) - Held that:- Taking into consideration that the respondent while issuing the notices proposed to levy penalty only at 50%, but, in the impugned orders, the respondent has levied penalty at 150%, I am of the view that these are fit cases, where the impugned orders can be set aside and the matters can be remitted back to the respondent to decide the same afresh - Decided in favour of assessee.
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