High Court Upholds Penalty Under KVAT for Not Applying Clear Formula; Tribunal's Decision Deemed Reasonable.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Levy of penalty - mens-rea - KVAT - When the formula was so clear as found by the Tribunal, and if it was not applied, the view taken by the Tribunal that the action was not unintentional cannot be said to be an impossible view - levy of penalty confirmed - HC....