https://www.taxtmi.com/caselaws?id=200094 Penalty under the Rajasthan Value Added Tax Act was not leviable where the dispute concerned the taxability of lease rentals, the transactions were fully reflected in properly maintained books, and the assessee's classification view was plausible. The authorities treated the issue as a debatable question on which two views were reasonably possible, and held that penalty cannot follow merely because the claim was disallowed when the underlying material was disclosed. The deletion of penalty was therefore upheld in favour of the assessee. en-us Fri, 20 Jan 2017 00:00:00 +0530 Wed, 21 Mar 2018 07:12:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200094 Penalty under the Rajasthan Value Added Tax Act was not leviable where the dispute concerned the taxability of lease rentals, the transactions were fully reflected in properly maintained books, and the assessee's classification view was plausible. The authorities treated the issue as a debatable question on which two views were reasonably possible, and held that penalty cannot follow merely because the claim was disallowed when the underlying material was disclosed. The deletion of penalty was therefore upheld in favour of the assessee. Case-Laws VAT and Sales Tax Fri, 20 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200094