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2015 (6) TMI 340 - HC - VAT and Sales TaxDifference between tax due after final assessment and advance tax paid by the assessee - penalty u/s Section 12-B(4) - First Appellate Authority held that the difference of 15% and above should be between the actual tax paid and tax payable as per the return as the said difference is less than 15%; levy of penalty was not justified - Held that:- If at the end of the year, it is found that the amount of tax paid in advance for the whole year in the aggregate was less than the tax payable for the whole year as finally assessed and the difference is more than 15%, then the discretion is conferred on the Assessing Authority to levy penalty in addition to the tax. - The actual advance tax paid and the tax payable on the final assessment is a fact to be taken into consideration and if the difference is more than 15%, then the penalty is leviable under sub-section (4) of Section 12B of the Act. The approach of the Appellate Authority was contrary to law, erroneous and prejudicial to the interest of the Revenue. Therefore, the Revisional Authority was duty bound to interfere with such erroneous order which was prejudicial to the interest of the Revenue and the order passed by the Revisional Authority is legal, valid and in accordance with law and does not call for interference of this court. - Decided against assessee.
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