TMI Blog2013 (8) TMI 378X X X X Extracts X X X X X X X X Extracts X X X X ..... t respondent to effect the assessment afresh, taking note of the actual facts and figures; more so when, absolutely no enabling provision of the Statute or any binding judicial precedent is brought to the notice of this Court from the part of the respondents, to hold that, irrespective of actual price, the department is entitled to reckon the 'floor rate' for the purpose of final assessment - Decided in favour of Assessee. - W.P(C) No. 6705 of 2008 - - - Dated:- 10-4-2012 - MR. P.R.RAMACHANDRA MENON J. PETITIONER: BY ADVS.SRI.ARIKKAT VIJAYAN MENON SRI.HARISANKAR V. MENON SRI.MAHESH V.MENON RESPONDENT: BY GOVERNMENT PLEADER SRI.SHAIJ RAJ JUDGMENT Exts. P1 to P3 assessments finalized by the first respondent, rejecting the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o be proceeded further. 4. After considering the facts and figures and also the objections raised by the assessee, the first respondent passed Exts. P1 to P3 assessment orders, accepting the contention of the assessee that the rate of the commodity was not to be not be above the 'floor rate' fixed as per Ext. P4 Circular; thus valuing the same @ Rs. 22 per Kg. The liability, to the differential extent, is sought to be recovered, issuing demand notice in this regard, which made the petitioner to approach this Court. 5. The course and proceedings pursued by the Department is sought to be justified by the respondents with reference to the counter affidavit filed by the third respondent. 6. Heard the learned counsel for the petitioner as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e very same logic and reasoning, it has to be held that the fixation of the "sale price" as given in the impugned circular is only "provisional", for the purpose of collection of "advance tax" alone and that the parties are at liberty to prove the actual facts and figures before the assessing authority; upon which, the actual tax payable will be determined based on the actual sale price and the parties will be entitled to get refund or set off, as the case may be." 8. Coming back to the case in hand, the case of the petitioner is that, the actual price of the commodity imported by the petitioner is much less than the 'floor rate' and that the petitioner has produced all the materials before the assessing authority in support of the same. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct the first respondent to effect the assessment afresh, taking note of the actual facts and figures; more so when, absolutely no enabling provision of the Statute or any binding judicial precedent is brought to the notice of this Court from the part of the respondents, to hold that, irrespective of actual price, the department is entitled to reckon the 'floor rate' for the purpose of final assessment. 9. In the above facts and circumstances, Exts. P1 to P3 assessment orders are set aside and the first respondent is directed to reconsider the matter, in the light of the observations in [2010] 27 VST 536 (Ker.), and pass fresh orders, of course, after giving an opportunity of hearing, as expeditiously as possible, at any rate within three ..... X X X X Extracts X X X X X X X X Extracts X X X X
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