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2019 (11) TMI 1069 - ALLAHABAD HIGH COURTRejection of claim of the revisionists under section 4-BB of the U.P. Trade Tax Act - benefit of setting off of tax on finished goods denied on the ground that it purchased the raw material from a dealer which is exempted under section 4-A of the Act - Whether on the facts and circumstances of the case the impugned order of the Tribunal is sustainable under law specially when the same has been passed in utter ignorance of the material on record and by recording erroneous and perverse findings? HELD THAT:- The issue involved in the present revisions has already been decided by this Court in the inter-parties case of COMMISSIONER, TRADE TAX, UP., LUCKNOW VERSUS SHRI MAHAVEER ROLLING MILLS (P) LTD. [2010 (5) TMI 754 - ALLAHABAD HIGH COURT] where it was held that The dealer, M/s. Mahaveer Iron Industry Pvt. Ltd., who has been given full exemption under section 4A of the Act was assessed to tax on the material sold to the assessee/revisionist and the tax so assessed on the sale of the said goods was deducted from his eligibility amount. Accordingly, it amounts to the payment of tax by way of adjustment. Section 4BB has not prescribed the manner of payment of tax and manner of payment cannot be confined to payment by actual tender but it would include payment of tax by adjustment also. In favour of assessee. Petition allowed.
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