2007 (8) TMI 690

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....This writ application is directed against order dated May 18, 2004 passed by the Commercial Taxes Tribunal, Bihar, Patna, in Revision Case No. PT-257/1997, whereby and whereunder imposition of penalty against the petitioner under section 16(9) of the Bihar Finance Act, 1981 (hereinafter to be referred to as, "the Act") for the period 1994-95 was affirmed.   Dr. Debi Pal, learned counsel fo....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... of the Act and a demand notice was served for Rs. 48,41,451.30. Dr. Debi Pal, learned counsel for the petitioner, submitted that pursuant to notice dated March 13, 1995, as contained in annexures 5 and 5/A the petitioner in all bona fide deposited advance tax of Rs. 13,50,00,000. Learned counsel, therefore, submitted that the assessing officer has committed an error of law against the settl....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....behalf of the State, on the contrary, submitted that from the materials on record, it appears to be a case of wilful evasion of tax, and, therefore, imposition of penalty is wholly justified. In view of the submission of learned counsel for the parties and materials available on record, it appears that imposition of penalty would not be justified, as no ingredient of mens rea was found on the p....