TMI Blog2015 (5) TMI 31X X X X Extracts X X X X X X X X Extracts X X X X ..... aim in Form W, is in effect, the amount which the dealer avail as refund would be a credit if the transaction was not a zero rated sale. - Assessing Officers were not justified in adopting uniform percentage as invisible loss and calling upon the dealer to reverse the refund/input tax credit availed to that extent. Consequently, all notices issued to the petitioner for reopening and all consequential order passed reversing the input tax credit to the extent of either 4% or 5% or adhoc basis stands set aside. However, liberty is granted to the concerned Assessing Officer to issue show cause notices to the petitioners clearly setting out the circumstances under which they propose to revise or call upon the petitioner to reverse refund sanctio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sivasakthi Exports Vs. Commercial Tax Officer Palladam Assessment Circle Palladam and two others, following the orders passed in a batch of writ petitions in W.P.No.13901 of 2013 etc. batch dated 26.11.2014, disposed of the writ petition in terms of the order passed in the said batch of writ petitions.5. This Court in W.P.No.13901 of 2013 etc. batch dated 26.11.2014 has passed the following order:- 63. In the result, (1) the challenge to the impugned circular is held to be unnecessary since the circular is a non statutory circular and is in the nature of guideline and the prayer for quashing the circular is rejected. (2) Section 18 of the TNVAT Act is not an independent or a separate stand alone provision under the provisions of T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... either 4% or 5% or on adhoc per centage stands set aside. However, liberty is granted to the concerned Assessing Officer to issue appropriate show cause notices to the petitioners clearly setting out under what circumstances they propose to revise or call upon the petitioner to reverse refund sanctioned and after inviting objections proceed in accordance with law. (5) The undertaking given by the dealer in Form W is with regard to information furnished for the purpose of verification by the Assessing Officer under Rule 11(2) of the VAT Rules for being entitled to refund under Section 18(2). Therefore, it is not as if the Act does not provide a remedy in the event of a wrong or erroneous refund sanctioned when Section 18 cannot be treated ..... X X X X Extracts X X X X X X X X Extracts X X X X
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