Commonwealth v. St. Matthews Gas & Electric Shop, Inc.

WADDILL, Commissioner.

The Commonwealth appeals from three judgments of the Jefferson ¡Circuit Court disallowing retroactive assessment of intangible property for taxation in excess of 3 years from the filing of the Commonwealth’s petition and denying penalties which the Commonwealth sought to assess under the provisions of KRS 132.290, 132.-330, and 132.340. Appellee contends, and the court apparently held, that the penalty provisions of KRS 132.290 whereby 100% penalty is levied against a taxpayer who fails to list intangible property for assessment, plus a 20% penalty in case the…