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2015 (3) TMI 134 - HC - VAT and Sales TaxInterest or penalty if there is an attempt to evade or avoid payment of tax- Adjustment of carried forward input tax credit - Whether Hon’ble Tribunal erred in deleting the liability of penalty and interest by permitting such adjustment of carried forward input tax credit - Held that:- It is not in dispute that the assessee had no surplus balance of input credit, which has been adjusted against the demand of tax upon reassessment. Under these circumstances, the element of avoidance of tax could be said as lacking. Consequently, the deletion of interest and penalty on the part of Tribunal could not be said as unjustifiable. In the event, when the issue is already covered by the above referred decision, we do not find that any substantial question of law would arise as sought to be canvassed. Following decision of STATE OF GUJARAT Versus JAY STEEL AND TUBES TRADERS [2015 (2) TMI 372 - GUJARAT HIGH COURT] - Decided against Revenue.
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