ASHWANI KUMAR MISHRA,J. - (1.) This revision is by the assessee relating to the assessment year 2002-2003, whereby penalty to the extent of Rs. 86,651/- has been imposed by the Tribunal. A perusal of the records goes to show that the revisionist is a registered dealer under the Central Sales Tax Act and is entitled to purchase camera and camera reel, by utilising Form-C, whereas it has purchased Computer, photo processing machine and stabiliser etc. by using Form-C. The authorities were of the opinion that Form-C could not be utilised for purchase of such items and, therefore, 10% of its value was imposed as penalty. The Tribunal has observed that after the year 2005, photo processing machine and stabiliser has also been added as an item in the registration certificate, and since the action of the assessee was not lacking in bona fide, as such, the penalty amount has been reduced from 10% to 5% by the Tribunal.
(2.) Thus aggrieved, the assessee is before this Court.
(3.) Learned counsel for the revisionist submits that there was no intention on part of the revisionist to evade tax and for previous years books of account, in that regard, had been accepted. It is also submitted that the imposition of penalty, in the facts and circumstances of the case, is not justified.;