Home Case Index All Cases VAT and Sales Tax VAT and Sales Tax + HC VAT and Sales Tax - 2021 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (12) TMI 379 - HC - VAT and Sales TaxValidity of assessment order - inclusion of the margin trading profit received by the dealer during the relevant assessment year as constituting sale/turnover under the KVAT Act - HELD THAT:- The Tribunal is the final Authority on consideration of fact and there ought not to be abstract application of circular dated 06.10.2016 to the case of the instant dealer. The reasons and the principles applied by the Authority ought to be considered by the Tribunal instead of this Court examining the circular dated 06.10.2016 and applying to the facts of the case. He suggests that the Tribunal could be called upon for re-examination of the issue by keeping in perspective the decision taken in circular dated 06.10.2016 and case could be remitted to the Tribunal. The matter requires reconsideration by the Tribunal by adjudicating the circumstances stated by the dealer and application of circular in the case on hand to the case of instant dealer - revision allowed by way of remand.
|