TMI Blog2013 (11) TMI 873X X X X Extracts X X X X X X X X Extracts X X X X ..... r under Article 226 of the Constitution may be exercised if the impugned order discloses an assumption of jurisdiction, where there is none. Where, however, the impugned order, prima facie, discloses an erroneous exercise of jurisdiction, the party aggrieved would be required to approach the appellate forum. The petitioner's case pertains to an erroneous exercise of jurisdiction, namely, exigibility to sales tax of `slump sale', applicability of the Full Bench judgment of the Andhra Pradesh High Court in Coromandal Fertilisers Limited versus State of AP and others [1998 (10) TMI 525 - ANDHRA PRADESH HIGH COURT] and legality of the penalty and, therefore, can be validly urged before the appellate forum. The petitioner has approached this Cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hensive Business Transfer Agreement dated 21.12.2011. The agreement envisages a `slump sale', as defined under Section 42(2) (c) of the Income Tax Act, 1961. The petitioner filed an Income-tax return disclosing capital gains, which has been accepted. The petitioner and the purchasing entity filed a joint declaration to the Sales Tax Department, furnishing intimation of the `slump sale'. The Assessing Officer, however, issued show cause notices to the petitioner and eventually, passed an assessment order levying tax and imposing a penalty at the rate of 200%. It is further submitted that transfer of a going concern does not involve a sale , as envisaged by the Punjab Value Added Tax Act, 2005 (hereinafter referred to as the `VAT Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pugned order discloses an assumption of jurisdiction, where there is none. Where, however, the impugned order, prima facie, discloses an erroneous exercise of jurisdiction, the party aggrieved would be required to approach the appellate forum. The petitioner's case pertains to an erroneous exercise of jurisdiction, namely, exigibility to sales tax of `slump sale', applicability of the Full Bench judgment of the Andhra Pradesh High Court and legality of the penalty and, therefore, can be validly urged before the appellate forum. The petitioner has approached this Court, as a precondition to the filing of an appeal is the requirement to pre-deposit a part of amount claimed by the revenue. We are not inclined, to entertain the appeal m ..... X X X X Extracts X X X X X X X X Extracts X X X X
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