TMI Blog1998 (12) TMI 599X X X X Extracts X X X X X X X X Extracts X X X X ..... ly on the ground that according to the petitioners, subjecting a dealer who has purchased goods from a dealer while he was registered but whose certificate of registration is cancelled later on under section 30AA with a retrospective date, falling prior to the date of such purchases, to the burden of tax, penalty and interest payable in respect thereof and subjecting him further to pains of provin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation of a registered dealer if he is satisfied that the registered dealer has without entering into a transaction of sale, issued to and accepted by another registered dealer a bill or cash memorandum with the intention to defraud the Government revenue or with the intention that the Government may be defrauded. Such a cancellation can be done either prospectively or retrospectively from such dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndor or purchaser is cancelled retrospectively, the genuineness of the transactions has to be verified at the time of assessment/ reassessment. If transactions are found genuine, they will not be affected by section 30AA and provisos thereto." 3.. In view of the clear stand taken by the State Government that if transactions are found to be genuine they will not be affected by section 30AA and pr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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