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2016 (7) TMI 141 - HC - VAT and Sales TaxWaiver of pre-deposit - Denial of Input tax credit - petitioner submitted that the disallowance of the input tax credit was solely on account of what the authority believed was nonconciliation of input tax credit. However, the authorities never brought such materials to the notice of the petitioner enabling the petitioner to point out the reasons for the discrepancies if at all. - The Tribunal by order dated 28.4.2016 required the petitioner to deposit 20% of the tax demand latest before 10.6.2016 but relieved the petitioner from the responsibility of providing bank guarantee for the remaining 80 per cent. Under these circumstances, the petitioner has approached the High Court. Held that:- Before the Tribunal also, the report was not placed on record, obviously it was not made available to the petitioner. If that be so, a serious question would arise how such materials could have been utilised to make such substantial additions. - The Tribunal was also of the opinion that the transactions of the petitioner appeared to be genuine. Full wavier granted to the petitioner - entire proceedings sent back before first appellate authority to be decided on merits - Decided in favor of petitioner.
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