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2018 (2) TMI 767 - HC - VAT and Sales TaxPenalty u/s 15-A (I)(o) of the Act - case of petitioner is that Form-31 is to be filled by seller and merely for the reason that details are not correctly filled, it would not mean that there was intention to evade payment of tax - whether penalty justified? - Held that: - Tribunal, however, has observed that there is no check post between Faridabad and Noida, therefore, possibility of misuse of Form-31 cannot be ruled out. The specific finding by the first appellate authority that there was no such misuse of form-31 by the assessee in the past, has neither been dealt with nor has been reserved. Even otherwise sales and purchase of earth moving equipments and its spare parts are made through banking transactions and are subject to the provisions of Central Excise Act. The mere fact that cheque number is not specified in the order of first appellate authority would not justify inference that the transaction was not a banking transaction. Tribunal is not justified in restoring penalty upon the assessee under Section 15-A (i)(o) - decided in favor of assessee.
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