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2018 (5) TMI 1284 - HC - VAT and Sales TaxPenalty u/s 12 (5) (iii) of TNGST Act - Whether Tribunal erred in law, in taking the view that since the appellant has recorded the turnover in his books of accounts, no penalty could be levied under Section 12 (5) (iii)? - Held that: - In Appollo Saline Pharmaceuticals (P) Ltd., Vs. Commercial Tax Officer (FAC) and Others [2001 (10) TMI 1100 - MADRAS HIGH COURT], it was held that The levy of penalty without considering the bona fides of the petitioner cannot be sustained. There is no suppression in the books of accounts and this fact has been categorically stated by the appellate authority, in his order, in which event, the assessee is entitled to invoke explanations (i) and (ii) to Section 12(3)(b) of the Act. Tax Case Revision Petition is dismissed.
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