Revenue's penalty rejected as no prior assessment under Luxuries Act; Tribunal allows reassessment within limitation period.

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....Petition of the Revenue is rejected on the ground that in the case on hand, no assessment determining the obligation/liability under the Luxuries Act is made, penalty proceedings are taken up, and by notionally calculating the amount the penalty is imposed. The Tribunal, has given liberty to department to first proceed to initiate assessment proceedings in accordance with law, subject to the period of limitation - HC....