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2022 (10) TMI 510 - HC - VAT and Sales TaxApplication for suo motu review of the Tribunal’s judgment dismissed - steps taken towards recovery of the demand raised against the petitioner could be retracted or not - HELD THAT:- While on one hand, the legal issue stands decided in favor of the assessees, generally, which includes the petitioner, the demand, which would have been formally set aside, had the petitioner preferred an appeal with this Court, remains undisturbed - the assessment order [given the aforementioned peculiar circumstances], has to be seen in the backdrop of the decision of this Court, and the fact that the Supreme Court had dismissed the SLP of the respondents/revenue, both on the ground of delay, as well as on merits. On merits, the broad issue which arose for consideration of this Court was whether the respondents/revenue were right in contending that the assessees were required to reverse input tax credits claimed by them on purchases made, on account of credit notes issued by selling dealers, despite the selling dealers having confirmed, that they had not reduced their output tax liabilities - this issue has been decided in favour of the assessees. The impugned order deserves to be set aside - Petition disposed off.
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