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TMI Blog2006 (7) TMI 601X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessment year 1996-97. Revision No. 609 of 1999 relates to the penalty under section 13A(4) of the Act while Revision No. 611 of 1999 relates to the assessment proceedings. Dealer/opposite party (hereinafter referred to as dealer ) was engaged in the business of manufacture and sale of cooler body and had disclosed its turnover at Rs. 77,665 which had been raised to Rs. 8,90,000 by the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... parte order. Order of penalty has been confirmed in first appeal. In second appeal, Tribunal allowed the appeal and set aside the penalty order. Tribunal held that the goods were found entered in the books of account. Tribunal further held that the goods have not been seized. The books of account and disclosed turnover has been accepted by the Tribunal on the ground that the enhancement of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... do not find any substance in the argument of learned Standing Counsel. Penalty under section 13-A(4) of the Act can only be levied in respect of the goods seized under section 13-A(1) of the Act. If the goods is not seized, penalty proceedings under section 13-A(3) of the Act cannot be initiated. In the present case, it appears that the goods had not been seized. Further the dealer had explain ..... X X X X Extracts X X X X X X X X Extracts X X X X
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