https://www.taxtmi.com/caselaws?id=154278 Iron hoops (iron strips) were treated as declared goods and therefore taxable only at the concessional 3% rate; the higher 7% levy could not be sustained for the assessment period. The penalty of Rs. 2,000 for failure to file returns was also unsustainable because, although the authority had power to impose it, the order showed no judicious exercise of discretion, no finding of deliberate or contumacious conduct, and no adequate reasons considering the relevant circumstances. The assessment and revisional orders were set aside, with consequential relief granted on concessional taxation. en-us Wed, 29 Aug 1984 00:00:00 +0530 Fri, 16 Aug 2013 16:49:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=154278 Iron hoops (iron strips) were treated as declared goods and therefore taxable only at the concessional 3% rate; the higher 7% levy could not be sustained for the assessment period. The penalty of Rs. 2,000 for failure to file returns was also unsustainable because, although the authority had power to impose it, the order showed no judicious exercise of discretion, no finding of deliberate or contumacious conduct, and no adequate reasons considering the relevant circumstances. The assessment and revisional orders were set aside, with consequential relief granted on concessional taxation. Case-Laws VAT and Sales Tax Wed, 29 Aug 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=154278