https://www.taxtmi.com/caselaws?id=314436 Under Section 72(6) of the Jharkhand Value Added Tax Act, 2005, where transported goods were treated as stock transfers and no tax was leviable, the tax-based component of penalty could not be computed. Applying strict construction of the penal provision, the Court held that the minimum penalty of Rs. 5,000 was the operative amount when tax liability was nil. Penalty orders, along with the appellate and tribunal orders, were set aside to the extent they imposed a higher penalty, and liability was confined to Rs. 5,000 in each matter. en-us Mon, 23 Jan 2023 00:00:00 +0530 Mon, 10 Jun 2024 13:33:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314436 Under Section 72(6) of the Jharkhand Value Added Tax Act, 2005, where transported goods were treated as stock transfers and no tax was leviable, the tax-based component of penalty could not be computed. Applying strict construction of the penal provision, the Court held that the minimum penalty of Rs. 5,000 was the operative amount when tax liability was nil. Penalty orders, along with the appellate and tribunal orders, were set aside to the extent they imposed a higher penalty, and liability was confined to Rs. 5,000 in each matter. Case-Laws VAT and Sales Tax Mon, 23 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314436