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TMI Blog2008 (10) TMI 621X X X X Extracts X X X X X X X X Extracts X X X X ..... alty under section 12(3)(b) is justified or not. The Tribunal had followed the judgment of this court in Indian Metal and Metallurgical Corporation v. State of Tamil Nadu [1978] 41 STC 165 and held that levy of penalty is valid where a claim of exemption by an assessee is disallowed leading to a best judgment assessment. It was contended by the Tribunal that the assessment was not a best judgment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y on the accounts furnished by the assessee in the prescribed return. On and after April 1, 1996 an Explanation has been added below section 12(3) which requires the turnover relating to the tax assessed on the basis of the accounts of the assessee, to be disregarded, while determining the turnover on which the penalty is to be levied under section 12(3). 8.. The assessments for the assessment yea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 00 on September 14, 2001 (Appollo Saline Pharmaceuticals (P) Limited v. Deputy Commercial Tax Officer [2002] 125 STC 500 (Mad)). The earlier judgments of this court had taken the view that the bottles being a distinct commodity and not having been consumed in the manufacture of I.V. fluids, there was a separate sale of the bottles and therefore, section 7A providing for levy of purchase tax was no ..... X X X X Extracts X X X X X X X X Extracts X X X X
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