TMI Blog2021 (5) TMI 416X X X X Extracts X X X X X X X X Extracts X X X X ..... - HELD THAT:- Learned Counsel for Revenue submitted that he has no objection for setting aside the impugned order and remanding the matter for fresh assessment. The matter is remitted back with a direction that a fresh assessment of tax and penalty shall be made by an authorized officer within four weeks from the date of receipt of a copy of this order - Petition allowed by way of remand. - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... same and consequently, direct the 3rd respondent to refund the aforesaid penalty amount and for such other orders. 2. Heard learned counsel for petitioner, Sri P.Rosi Reddy, learned Assistant Solicitor General, representing on behalf of 1st respondent and Sri M.V.J.K.Kumar, learned standing counsel for respondents 2 and 3 and with their consent, this writ petition is disposed of at the admissi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... put tax credit was wrongly availed, the penalty that can be imposed is ₹10,000/- or 10% of the tax due, whichever is higher. That being so, in this case, he would argue that the tax imposed was ₹27,47,248/- and an equal amount of ₹27,47,248/- was imposed as penalty, which is quite contrary to Section 122(2)(a) of APGST Act. On these grounds, the learned counsel sought for setting ..... X X X X Extracts X X X X X X X X Extracts X X X X
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