2003 (9) TMI 739

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...."the Act") against the order of Tribunal dated September 27, 1991 for the assessment year 1982-83.   2. The applicant was manufacturer of rice. The paddy was raw material for the manufacturing of rice. Being the manufacturer, the applicant was holding recognition certificate under section 4-B of the Act. During the year under consideration, applicant had purchased paddy from registered dea....

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....298.93 there was violation of section 4-B(2) of the Act. The assessing authority initiated the penalty proceeding for the violation of section 4-B(2) of the Act and after considering the reply of the applicant levied the penalty at Rs. 2,25,000. The assessing authority observed that the minimum penalty leviable was at Rs. 1,14,532.96 which was the tax on the amount of Rs. 28,63,298.93. The appl....

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....roceeded that it was three times of the tax. He submitted that in view of the fact that there was no intent to commit any default, the minimum penalty should be levied. 5.. Having heard learned counsel for the parties, in my view there is no force in the argument of the learned counsel for the applicant that there was no default under section 4-B(2) of the Act. Admittedly, the applicant was hol....

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....ayment of tax or by paying tax at a concessional rate of less than four per cent and such notified goods are sold or disposed of by such dealer otherwise than by way of sale in the State or in the course of inter-State trade or commerce or in the course of export out of India, such dealer shall be liable to pay as penalty such amount as the assessing authority may fix, which shall not be less than....