https://www.taxtmi.com/caselaws?id=432499 Tyres, tubes and flaps sold with a tractor-trolley did not qualify for the concessional 4% rate under Entry 119 of Schedule B because that entry expressly excluded those goods; in the absence of a specific concessional entry, they fell to the residuary rate. Penalty under Section 42(5) of the Odisha VAT Act was treated as consequential to a sustained audit assessment and operated automatically once the assessment survived. Cited penalty precedents were held inapplicable because they arose under different statutory settings and did not displace the mandatory scheme under Section 42(5). en-us Tue, 03 Jan 2023 00:00:00 +0530 Mon, 11 Sep 2023 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432499 Tyres, tubes and flaps sold with a tractor-trolley did not qualify for the concessional 4% rate under Entry 119 of Schedule B because that entry expressly excluded those goods; in the absence of a specific concessional entry, they fell to the residuary rate. Penalty under Section 42(5) of the Odisha VAT Act was treated as consequential to a sustained audit assessment and operated automatically once the assessment survived. Cited penalty precedents were held inapplicable because they arose under different statutory settings and did not displace the mandatory scheme under Section 42(5). Case-Laws VAT and Sales Tax Tue, 03 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432499