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2015 (12) TMI 466 - MADRAS HIGH COURTRevision of assessment under section 16 of the Act - Determination of taxable turnover - Held that:- there is absolutely no discussion as to why the product should be classified under residuary entry, viz., entry 40 of Part D of the First Schedule, when the petitioner's case is that it falls under entry 18(iii) of Part B of the First Schedule. Further more, the petitioner has relied on G. O. Ms. No. 30 CT (B1) dated March 27, 2002, stating that they fall within the category of electronic integrated circuits and micro-assemblies. Further, the petitioner stated that the Automatic Power Factor Control System is a brand name, but the commodity is microprocessor. This aspect of the matter was also not considered. In fact in the show-cause notice dated October 24, 2007, the respondent does not dispute the fact that the petitioner's product contained electronic integrated circuits and assemblies, nevertheless he proposed to revise the assessment. If the product contains electronic integrated circuits and assemblies, then it would fall under the sub-item No. 3 of G. O. Ms. No. 30 dated March 27, 2002 and consequently fall under entry 18 of Part B of the First Schedule and in such an event, the rate of tax would be only at four per cent. This aspect of the matter has not been considered by the respondent. Therefore, the impugned order is held to be bad in law. - petitioner does not disclose the turnover, but the proceeding itself was a revision of assessment under section 16 of the Act - Hence, the penalty imposed is absolutely uncalled for and accordingly the same is deleted. - Decided in favour of assessee.
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