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2012 (12) TMI 74 - HC - VAT and Sales TaxKerala Value Added Tax Act – business of trade and exporting of cashew nuts - objecting to the fixation of floor rates – Held that:- Floor value for cashew nuts and cashew kernels have not been fixed in other States is no reason to attract the provisions of article 14 of the Constitution of India - revision of floor value was on the basis of a study conducted by the committee of experts and this court lacks any expertise to sit in judgment over the conclusions of these experts - there is no material to conclude that the quality of the cashew mentioned in exhibits P6 and P7 is comparable with any one of the grades of the cashew mentioned in exhibit P3 and therefore in my view, exhibits P6 and P7 cannot be pressed into service. Further there is no material before this court to hold that the floor value fixed is illegal for any reason - circulars can be relied on only for the purpose of levy of advance tax as contemplated under section 47(16A) of the KVAT Act and in cases where undervaluation is detected, adopting floor value fixed as a guideline, proceedings under the KVAT Act can be initiated.
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