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2016 (9) TMI 1611 - HC - VAT and Sales TaxLevy of VAT - sale of “repossessed” cars owned by Bank - quantum of penalty - HELD THAT:- It could not be said that the point was not debatable; undoubtedly it was. The levy of 200% penalty, therefore, is not sustainable; this court, at the same time, opines that it would not be appropriate to act as an adjudicating authority as to the proportionateness of the penalty to be imposed having regard to the fact that the issue was debatable. The matter is accordingly remitted to the Tribunal on the limited question of extent of penalty to be properly levied under these circumstances. The appeals are accordingly partly allowed on the question of penalty.
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