Assessee's Claim Rejected Under TNVAT Act Section 27(4)(1) for Being Time-Barred; No Penalty Imposed Due to No Wrongdoing.

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....Penalty u/s 27(4)(1) of TNVAT Act - the claim made by the assessee was outrightly rejected by the Assessing Officer as time barred and therefore, there is no allegation that the assessee had wrongly availed input tax credit - No penalty....