TMI Blog2015 (6) TMI 340X X X X Extracts X X X X X X X X Extracts X X X X ..... thority 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. - STA NO. 126 OF 2012 - - - Dated:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ble as per the return as the said difference is less than 15% levy of penalty was not justified and therefore, the First Appellate Authority set aside the order passed by the Assessing Authority imposing penalty. 3. The Additional Commissioner of Commercial Taxes, Bangalore (for short, hereinafter referred to as 'the Revisional Authority') initiated suo-motu revisional proceedings under Section 22-A(1) of the Act. Issued notice asking the assessee to show cause why the said order of the Appellate Authority should not be interfered with as it is not only erroneous but also prejudicial to the interest of the Revenue. The assessee filed a detail statement of objections supporting the order passed by the First Appellate Authority. Af ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r or the tax for the whole year as finally assessed, as the case may be, by more than fifteen per cent, the assessing authority may direct such dealer to pay, in addition to the tax, a penalty [which shall not be less than one half of the tax so paid in short, but not exceeding [x x x x x ] the amount by which the tax so paid fall short of the tax payable for the month or quarter or for the whole year as the case may be:] Provided that no penalty under this sub-section shall be imposed unless the dealer affected has had a reasonable opportunity of showing cause against such imposition:] [Provided further that no penalty shall be levied under this sub-section after a period of eight years from the close of the year to which any tax pai ..... X X X X Extracts X X X X X X X X Extracts X X X X
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