2008 (11) TMI 631

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nging the Tribunal's order, setting aside the penalty. Heard Mr. Haja Nazirudeen, learned Special Government Pleader (Taxes) appearing for the Revenue and Mr. Shanmugam, learned counsel appearing for the respondent. The relevant paragraph of the Tribunal's order reads as follows: "9. Penalty: The point for consideration is whether the adaptation of formula can be termed as a best ....