TMI Blog2022 (12) TMI 1393X X X X Extracts X X X X X X X X Extracts X X X X ..... isha Sales Tax Tribunal, Cuttack, is right in law to hold Section-43 provides for best judgment assessment, whose part and parcel is imposition of penalty. If the use of word may is liberally used then the purpose of escape assessment under VAT regime would disappear? - HELD THAT:- It is seen that in the assessment order dated 5th February, 2013 while raising a demand on the basis erroneous cl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is answered in the negative, i.e., in favour of the Petitioner and against the Department and the impugned order of the Tribunal and the corresponding orders of the First Appellate Authority and the Assessing Officer levying penalty on the Petitioner under Section 43 (2) of the OVAT Act are hereby set aside - application disposed off. - STREV No. 17 of 2016 - - - Dated:- 7-12-2022 - THE CHIEF ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... II. Whether, the facts and circumstances of the case, the Division Bench-II, Odisha Sales Tax Tribunal, Cuttack, is right in law to hold Section-43 provides for best judgment assessment, whose part and parcel is imposition of penalty. If the use of word may is liberally used then the purpose of escape assessment under VAT regime would disappear? 2. As far as question I is concerned, it is s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under Section 43(2) of the OVAT Act to impose penalty. It is imperative for the Assessing Officer to be satisfied that the escapement of under assessment of tax is without any reasonable cause . 4. As far as present case is concerned, the assessment order of the Assessing Officer does not record the satisfaction of the Assessing Officer that wrongful availment of ITC by the Petitioner was wi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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