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2019 (6) TMI 492 - HC - VAT and Sales TaxRequirement of pre-deposit - appellant is incurring huge losses as is evident from the Balance Sheets and is not in a position to deposit the amount - reversal of Input tax credit on closing stock of wheat and rice - Section 19(4) of the Punjab VAT Act - reversal of Input Tax Credit on retention of bye products by the Rice Millers - rule 21(6) of Punjab VAT Rules, 2005. HELD THAT:- As per the provisions of Section 62(5) of the Act, 25% of the amount has to be deposited for entertainment of the appeal. However, as per the decision of this Court in PUNJAB STATE POWER CORPORATION LIMITED VERSUS THE STATE OF PUNJAB AND OTHERS [2016 (2) TMI 245 - PUNJAB AND HARYANA HIGH COURT], the First Appellate Authority has a power to waive off the precondition in appropriate cases - It would be pertinent to note here that additional demand in the present case is with regard to tax only and the appellant is required to deposit 25% of the tax amount. The condition imposed by the First Appellate Authority and the Tribunal for entertainment of appeal was reasonable. Learned counsel for the appellant has not been able to point out any perversity in the order of the Tribunal. No interference is called for in the impugned order - The appeals involve no question of law much less a substantial question of law - The appeals have been filed along with applications under Section 5 of the Limitation Act, 1963 for condoning the delay in filing the appeals. As the appeals have been dismissed on merits, no further orders are required to be passed on the applications for condonation of delay. Appeal dismissed.
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