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Kvat act 2003 u/s 72(1)

This query is : Resolved 
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(Querist)
24 January 2012
WHAT ABOUT PHILPS INDIA COURT CASE FOR KVAT ACT 2003 PENALTY U/S 72(1)
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CA. Hari Kishan

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CA. Hari Kishan (Expert)
28 January 2012 The Judgement in the case of M/s. Philips India quashing 72(1) has been overruled by the DIVISION BENCH and presently the department can initiate penalty under 72(1) of the Karnataka VAT. (status as on 27.01.12)
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