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TMI Blog2022 (12) TMI 1393X X X X Extracts X X X X X X X X Extracts X X X X ..... ssment tax is without any reasonable cause - 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? - HELD THAT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g Officer that the escapement of tax was without reasonable cause, is absent in the present case. The issue 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt tax is without any reasonable cause? 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a discretion in the Assessing Officer 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 availme ..... X X X X Extracts X X X X X X X X Extracts X X X X
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