Home Case Index All Cases VAT and Sales Tax VAT and Sales Tax + HC VAT and Sales Tax - 2022 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (8) TMI 1349 - HC - VAT and Sales TaxApplication of IBM rate which is ad-valorem rate for payment of royalty and fixation of sale price for the months of September to December 2009 - whether the petitioner had sold ROM at a higher price than shown by him? - HELD THAT:- Learned counsel for the State has not been able to show any distinguishing features in the assessment orders passed against the petitioner for the Financial Years 2009-10 and subsequent years 2010-11 and 2011-12. The petitioner was imposed tax and penalty under section 35(7) read with section 40(2) of the JVAT Act in the subsequent financial years also treating the IBM ad-valorem rate of royalty as the benchmark + comparative rate of two other dealers regarding the sale of ROM. The Appellate Authority vide order dated 27.08.2015 has remanded the matter to the Assessing Authority to examine the aforesaid aspect and in the light of the fact that no categorical findings on suppression of sale price have been made by the petitioner or that the Assessing Authority had not found proof of sale of ROM having ferrous content of 60 to 62%. Learned Tribunal in the impugned judgment has also categorically taken note that the State has not made any allegation of concealment of turnover or fixation of any higher price by the petitioner, but State’s only contention is that IBM rate or the price fixed for calculating royalty amount should have been considered as a measure to calculate the total GTO on the ground that the IBM rate has been evolved after considering the production grade and the prices fixed by top ten Mining Companies dealing in the field. It appeals to reason the assessment made in respect of the Financial Year 2009-10 for the months of September to December 2009 also deserves to be remanded to the Assessing Authority to examine these aspects of the matter - Matter is remanded to the Assessing Officer to examine the case of petitioner - Petition allowed by way of remand.
|