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2015 (4) TMI 655 - GUJARAT HIGH COURT

2015 (4) TMI 655 - GUJARAT HIGH COURT - TMI - Levy of penalty and interest - adjustment of carried forward input tax credit - Held that:- respective assessees had surplus balance of input credit, which have been adjusted against the demand of tax upon reassessment. Under these circumstances, the element of avoidance of tax could be said as lacking. Consequently, the deletion of interest and penalty by the learned Tribunal could not be said as unjustifiable and/or it cannot be said that the learn .....

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AND MR. S.H.VORA, JJ. FOR THE APPELLANT : MR CHINTAN DAVE, ASSTT. GOVERNMENT PLEADER FOR THE OPPONENT : MS GARGI VYAS, ADVOCATE for M/S WADIAGHANDY & CO, ADVOCATE ORDER (PER : HONOURABLE MR.JUSTICE M.R. SHAH) [1.0] As common question of law and facts arise in this group of Tax Appeals as well as Special Civil Application and the only issue involved is the decision of the learned Gujarat Value Added Tax Tribunal, Ahmedabad (hereinafter referred to as Tribunal ) in deleting the liability of pe .....

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ng such adjustment of carried forward input tax credit which was as such lying in the credit of the respective dealers. [3.0] Today, when all these appeals as well as special civil application are taken up for final hearing, Shri Chintan Dave, learned AGP has fairly conceded that the issue involved in the present tax appeals as well as the special civil application is squarely covered against the State Government/Revenue in view of the decision of the Division Bench of this Court dated 25.11.201 .....

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on: (1) Whether Tribunal erred in deleting levy of interest and penalty merely because assessee had excess input credit adjustable against tax demand? (2) Any other substantial question of law as may be deemed fit by the Hon'ble High Court may kindly be framed. 2. From the record, it emerges that the Revenue contests the deletion of interest and penalty by the Tribunal in case of the respondent - assessee. The Tribunal in the impugned judgment also held as under: The appellant has paid the a .....

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e entire interest and penalty. We pass following order. 3. From the observation of the Tribunal, it appears that though the assessing officer had raised additional tax demand of ₹ 76,010/and imposed interest and penalty on such basis, the Tribunal was of the opinion that the assessee had sufficient Input Tax Credit and those tax credits could have been adjusted against the assessee s additional assessed tax liability. That being the position, the Tribunal correctly held that the interest c .....

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