2016 (10) TMI 1345

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..... enalty is above 150%. The main question of law is answered against the assessee. Appeal allowed in part. - VAT APPEAL 29/2016 & C.M.Nos.38893/2016 & 38961/2016 - - - Dated:- 21-10-2016 - HON'BLE MR. JUSTICE S. RAVINDRA BHAT HON'BLE MS. JUSTICE DEEPA SHARMA For the Appellant: Ms. Kavita Jha, Mr. Shammi Kapoor and Ms. Purva Juneja, Advts. For the Respondent : Mr.Satyakam, A .....

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..... that judgment was followed in HDFC Bank vs. Commissioner of Value Added Tax, Delhi (VAT APPEAL 26/2016 decided on 26.09.2016). At the same time, in HDFC Bank s case (supra) the court had held that levy of almost 200% penalty was not justified. In the present case, levy of penalty is above 150%. The main question of law is answered against the assessee. However, the matter is remitted to the adj .....

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