Penalties Under KVAT Act Sec 72(2) Aren't Automatic; Specific Conditions Under Sec 64 Must Be Met First.

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....Levy of penalty under Section 72(2) of KVAT Act - Wrong classification of goods - it is evident that the levy of penalty under Section 72(2) of the Act is neither automatic nor mandatory. - the condition precedent for invoking the powers under Section 64 of the Act, is not fulfilled. - HC....