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2023 (5) TMI 647 - HC - VAT and Sales TaxReversal of ITC - incentives / discounts received by the appellant from its vendors - attachment of bank accounts - HELD THAT:- Out of the total disputed tax of Rs.1,02,05,505/- for the assessment years in question, a sum of Rs.46,81,461/- relates to the reversal of ITC on incentives, which is covered by the judgment of the Apex Court in M/s.Jayaram & Co. case [2016 (9) TMI 408 - SUPREME COURT] wherein, the assessment orders dated 29.10.2010, with respect to reversal of input tax on incentives / discounts received by the appellant from its vendors, were set aside - After deducting the said sum of Rs.46,81,461/-, the balance sum of Rs.55,24,044/- pertaining to other issues, to which, the appellant has also filed application under Section 84 of the TNVAT Act, 2006. Considering the total quantum covered under Section 19(20) of the Tamil Nadu Value Added Tax Act, 2006, amounts to Rs.46,81,461/-, which was set aside in the earlier round of litigation, but, the same was not taken into consideration by the learned Judge and that, if the amount so deleted, is deducted from the total disputed tax of Rs.1,02,05,505/- by way of subsequent assessment proceedings, the total outstanding amount would be around Rs.55,00,000/-, this court, to meet the ends of justice, is inclined to modify the order of the learned Judge, in the following terms: i. The appellant shall pay a sum of Rs.25,00,000/- within a period of eight weeks from the date of receipt of a copy of the judgment; ii. On such payment, bank attachment, if any, shall be lifted forthwith; iii. On the failure of the appellant to comply with the direction (i) above, the interim order granted by the learned Judge shall stand vacated automatically without any reference to this court. Appeal disposed off.
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