TMI Blog2016 (9) TMI 1611X X X X Extracts X X X X X X X X Extracts X X X X ..... o act as an adjudicating authority as to the proportionateness of the penalty to be imposed having regard to the fact that the issue was debatable. The matter is accordingly remitted to the Tribunal on the limited question of extent of penalty to be properly levied under these circumstances. The appeals are accordingly partly allowed on the question of penalty. - VAT APPEAL 26/2016 & CM.APPL. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eviable to transactions, where the bank sold repossessed cars in respect of which it had advanced amounts to its borrowers. The decision of the Tribunal is in conformity with the Division Bench ruling of this Court in Citi Bank vs. Commissioner of Sales Tax 2016 (1) AD (DEL) 581. The court has considered judgments of other High Courts-viz. Andhra Pradesh etc., and concluded that VAT was leviable ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sustainable; this court, at the same time, opines that it would not be appropriate to act as an adjudicating authority as to the proportionateness of the penalty to be imposed having regard to the fact that the issue was debatable. The matter is accordingly remitted to the Tribunal on the limited question of extent of penalty to be properly levied under these circumstances. 4. The appeals are ..... X X X X Extracts X X X X X X X X Extracts X X X X
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