https://www.taxtmi.com/caselaws?id=431346 The Court dismissed the revision petitions, upholding the Tribunal's decision to impose penalties under Section 42(5) of the OVAT Act. The judgment emphasized the mandatory nature of the penalty provision, highlighting that once tax determination occurs following an audit assessment, the penalty is automatically triggered without discretion. Previous judgments were referenced to distinguish penalties under Section 42(5) from other provisions, affirming the authority's power to impose penalties under this specific section. 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 The Court dismissed the revision petitions, upholding the Tribunal's decision to impose penalties under Section 42(5) of the OVAT Act. The judgment emphasized the mandatory nature of the penalty provision, highlighting that once tax determination occurs following an audit assessment, the penalty is automatically triggered without discretion. Previous judgments were referenced to distinguish penalties under Section 42(5) from other provisions, affirming the authority's power to impose penalties under this specific section. Case-Laws VAT and Sales Tax Tue, 06 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431346