https://www.taxtmi.com/caselaws?id=431346 Penalty under Section 42(5) of the Orissa VAT Act is mandatory where an audit assessment is completed under Section 42: once tax is determined under Section 42(3) or 42(4), the provision requires imposition of a penalty equal to twice the assessed tax. The assessing authority has no discretion to reduce or waive the penalty, unlike provisions that depend on satisfaction about evasion or reasonable cause. A plea based on surplus input tax credit does not prevent levy where tax payable has already been affirmed, and absence of mens rea is not a defence to the statutory penalty. en-us Tue, 06 Dec 2022 00:00:00 +0530 Thu, 25 May 2023 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431346 Penalty under Section 42(5) of the Orissa VAT Act is mandatory where an audit assessment is completed under Section 42: once tax is determined under Section 42(3) or 42(4), the provision requires imposition of a penalty equal to twice the assessed tax. The assessing authority has no discretion to reduce or waive the penalty, unlike provisions that depend on satisfaction about evasion or reasonable cause. A plea based on surplus input tax credit does not prevent levy where tax payable has already been affirmed, and absence of mens rea is not a defence to the statutory penalty. Case-Laws VAT and Sales Tax Tue, 06 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431346