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2017 (8) TMI 1201 - MADRAS HIGH COURTValidity of order passed by Deputy Commissioner (CT), Chennai - Penal interest under Section 24(3) - it was alleged that the petitioner has not reported the sales turnover of REP licence and the transaction is liable to be taxed at 8% - Held that: - When I perused the order passed by the first revisional authority namely, the Deputy Commissioner (CT), Chennai, dated 03.11.2004, it appears that the said Officer has not approached the matter in a proper manner, as while setting aside the order of the Assessing Officer and remanding the matter for fresh consideration, virtually issued a positive direction to the Assessing Authority to levy penal interest under Section 24(3) of the TNGST Act - the matter is to be remanded for being considered afresh. Section 14 of the TNGST Act, would have no application to the facts of this case, as the revised return dated 31.03.2000, is not within the period of five years from the date of the original assessment, which is dated 30.09.1994. Though Section 14 speaks of re-assessment still there is an embargo on the part of the Assessing Officer to invoke Section 14 of the TNGST Act and obviously such power could not have been invoked in the instant case. Appeal allowed by way of remand.
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