TMI Blog2013 (8) TMI 340X X X X Extracts X X X X X X X X Extracts X X X X ..... tionale on the part of the respondents in claiming interest and penalty with regard to the payment to be effected by the petitioner in respect of the subsequent assessment years - concerned respondent is directed to reconsider the matter, especially with regard to the objection to be placed by the petitioner and also on the other points, if raised, which are not covered in this writ petition but form the subject matter - Decided in favour of Assessee. - W.P.(C) No.1000 of 2008 - - - Dated:- 12-4-2012 - MR. P.R. RAMACHANDRA MENON J. PETITIONER: BY ADV. SRI.N.MURALEEDHARAN NAIR. RESPONDENTS: BY SR. GOVERNMENT PLEADER SRI. S. SUDHISH KUMAR. JUDGMENT The rights and liberties of an assessee to carry forward and to set off adjus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oner/assessee was to have it claimed by way of refund. The petitioner was also asked to satisfy the liability in respect of the 'next return period' with interest and penalty, in view of the failure/ lapse on his side. 3. On receipt of Ext.P6 , the petitioner submitted Ext.P7 reply, stating that the petitioner did not require any refund and sought to have it adjusted, more so in view of the specific enabling provision under the statute. According to the petitioner, nothing was heard for about one year and thereafter Ext.P8 notice was issued under Section 24(1) of the KVAT Act, virtually reiterating the stand as referred to in Ext.P6 notice. This made the petitioner to approach this Court by filing the writ petition, challenging Ext.P6 a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al delivery book. A copy of the relevant portion has been produced before this Court as Ext.P11. It is also brought to the notice of this Court, that the very same authority has considered the excess input tax credit for the year 2006-07 and has adjusted the same in respect of the next assessment year 2007-08, as revealed from Ext.P9. Similarly, since there was excess input tax credit in respect of the assessment year 2007-2008 and the same was kept to be adjusted against the next assessment year ie, 2008-09 as per Ext.P10 and it has been adjusted accordingly. This being the position, the contention raised from the part of the respondents that the excess input tax credit from one assessment year cannot be carried forward, to be adjusted in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent Pleader that, such course is not in conformity with the statutory prescriptions, going by the mandate of Section 11(6). 9. The fact remains that the petitioner has effected much payment well in advance, resulting in excess input tax credit and the amount is lying at the hands of the Government/department, who was virtually generating funds, making use of the same. It is also a fact that the petitioner has filed Ext.P1/P2 refund applications, acceptance of which now stands conceded from the part of the revenue. It is a fact, as revealed from Ext.P9/P10, that the respondents have adjusted the excess payments against the subsequent liablity in respect of the subsequent assessment years, while the amount of the petitioner was lying at t ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
