https://www.taxtmi.com/caselaws?id=397840 The court allowed the appeal filed by the industrial concern, setting aside the penalty orders imposed for alleged misuse of form-C under the Central Sales Tax Act. The penalty amount was reduced from Rs. 64,14,250 to Rs. 29,07,760 by the First Appellate Authority. The court emphasized the importance of a bona fide belief in determining penalty imposition, aligning with the interpretation of Section 10(b) of the Act. Relief was granted to the assessee, overturning previous penalty orders and directing the adjustment of the deposited amount against future taxes. The appeal filed by the revenue was dismissed. en-us Tue, 18 Aug 2020 00:00:00 +0530 Mon, 31 Aug 2020 13:51:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397840 The court allowed the appeal filed by the industrial concern, setting aside the penalty orders imposed for alleged misuse of form-C under the Central Sales Tax Act. The penalty amount was reduced from Rs. 64,14,250 to Rs. 29,07,760 by the First Appellate Authority. The court emphasized the importance of a bona fide belief in determining penalty imposition, aligning with the interpretation of Section 10(b) of the Act. Relief was granted to the assessee, overturning previous penalty orders and directing the adjustment of the deposited amount against future taxes. The appeal filed by the revenue was dismissed. Case-Laws VAT and Sales Tax Tue, 18 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397840