2009 (4) TMI 888

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.... Tamil Nadu Sales Tax Appellate Tribunal (Additional Bench), Chennai dated April 28, 2000 and passed in STA No. 533 of 1999. The levy of tax and penalty in respect of the premium received for transfer of REP licences is put in issue in this revision. The issue that the sale of REP licences is assessable to tax was settled by this court as early as April 4, 1994 in the case of P.S. Apparels v. Dep....

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....Bench has taken the view that the penalty, if any, could be leviable only from the assessment years 1992-93 onwards and the respective assessing authorities shall consider the issue relating to the actual levy of penalty in individual cases depending upon the facts and circumstances of the case in accordance with law. This judgment has been confirmed by the Supreme Court in the case of Vikas Sales....

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....4] 94 STC 139 (Mad), where, if there is wilful non-disclosure the assessing officer is vested with power of discretion for levy of penalty. However, during the relevant period, the penalty provision has been amended without giving any discretion to the assessing officer by taking away the ingredient of "wilful non-disclosure" from the statutory provision and also taking away the discret....