https://www.taxtmi.com/caselaws?id=307322 Penalty under Section 43(2) of the Odisha Value Added Tax Act, 2004 requires a recorded satisfaction that the underassessment or escapement of tax occurred without reasonable cause. Where the assessment order imposed penalty for wrongful availment of input tax credit but did not make that finding, the jurisdictional condition for penalty was not met. The omission was treated as fatal to the levy, and the penalty was set aside in favour of the assessee. en-us Wed, 07 Dec 2022 00:00:00 +0530 Mon, 11 Aug 2025 14:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307322 Penalty under Section 43(2) of the Odisha Value Added Tax Act, 2004 requires a recorded satisfaction that the underassessment or escapement of tax occurred without reasonable cause. Where the assessment order imposed penalty for wrongful availment of input tax credit but did not make that finding, the jurisdictional condition for penalty was not met. The omission was treated as fatal to the levy, and the penalty was set aside in favour of the assessee. Case-Laws VAT / Sales Tax Wed, 07 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307322