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2017 (3) TMI 1063 - HC - VAT and Sales TaxLiability of tax - transfer of stock was not backed by any Form-F - The assessing authority was of the opinion that there exists a statutory presumption of sale, unless such transfer beyond the State was backed by Form-F - whether mere absence of Form-F would be conclusive that the sale has taken place justifying demand of tax? - Held that: - The provision is categorical and clear, inasmuch as any transfer of stock, which is not backed by Form-F, would be deemed for all purposes to have been occasioned as a result of sale - Prior to its amendment in the year 2002, such statutory presumption of sale was apparently not in existence - Once a statutory presumption is drawn regarding sale in the absence of Form-F, and the assessee has not been able to put forth any material, which may have been responsible for non-submission of Form-F, the first appellate authority and the tribunal were not justified in interfering with the order of assessing authority, holding the assessee liable to payment of tax - demand justified - revision disposed off.
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