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2018 (4) TMI 1219 - HC - VAT and Sales TaxPenalty u/s 12(3)(b) of TNGST Act - contention of the assessee is that the liability on the sales of special import licence is not yet a settled issue and that under bonafide belief only they have not reported this turnover - suppression of facts with intent to evade not present - Held that: - In Indira Industries Vs. State of Tamil Nadu, [2014 (5) TMI 305 - MADRAS HIGH COURT], this Court considered a question, as to whether, levy of penalty under Section 12(3)(b) of the Tamil Nadu General Sales Tax Act, 1959, was justifiable, particularly, when there was no suppression pointed out by the Revenue that the Claim of the assessee related only to concessional rate of tax. This Court held that When the turnover assessed under the assessment order is drawn from the books of accounts and no reference to any specific concealment of the turnover in the accounts made, the question of invoking Section 12(3)(b) would not arise. Penalty cannot sustain - Tax Case Revision Petition is dismissed.
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