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8.In the Pre Revision Notice dated 24.04.2008, issued by the Second Respondent/Deputy Commercial Tax Officer-I, Virudhunagar, in Asst. No.5720959/97-98 in page No.2 it is mentioned among other things as follows:

Penalty:

"As had been rightly contended by the appellant the assessing authority has misquoted Section 12(3) in the matter of levy of penalty as against section 16(2) of the TNST Act,1959. However, the wrong quoting of section would not vitiate the proceedings ipso facto when he is adequately vested with power to levy of penalty under Section 16(2) of the TNGST Act, 1959. The assessing authority had clearly established that the appellant had suppressed assessable turnover from the return filed under the TNGST Act, 1959. But for verification the suppression would not have come into light. Therefore, for the willful non- disclosure of the assessable turnover in the return filed the Assessing authority is well justified in levying penalty on the tax due on the suppressed turnover at 150%. Therefore, the levy of penalty at 150% on the suppressed tax due is called for. However, as it is found that the levy of penalty is not in accordance with law the provisions of section 16(2), the penalty levied is set aside and remanded for fresh disposal.