https://www.taxtmi.com/caselaws?id=162520 Penalty cannot be sustained on the value of goods treated as exempt from sales tax, because exempt goods do not provide a lawful base for penalty computation. On that footing, the penalty relating to HDPE fabrics was set aside. For multifilament yarn, taxability was accepted and liability was conceded, but the quantum of penalty required fresh examination by the assessing authority in light of the limited taxable liability. The matter on multifilament yarn was remanded for reconsideration, with consequential release and adjustment of the security furnished. en-us Tue, 13 Sep 2005 00:00:00 +0530 Sat, 01 Mar 2014 11:28:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=162520 Penalty cannot be sustained on the value of goods treated as exempt from sales tax, because exempt goods do not provide a lawful base for penalty computation. On that footing, the penalty relating to HDPE fabrics was set aside. For multifilament yarn, taxability was accepted and liability was conceded, but the quantum of penalty required fresh examination by the assessing authority in light of the limited taxable liability. The matter on multifilament yarn was remanded for reconsideration, with consequential release and adjustment of the security furnished. Case-Laws VAT and Sales Tax Tue, 13 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=162520