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2015 (7) TMI 629 - KARNATAKA HIGH COURT

2015 (7) TMI 629 - KARNATAKA HIGH COURT - TMI - Levy of vat on construction of residential apartments - valuation - Alternative remedy - claime of deduction on the value of the undivided interest (immovable property) in the project - Held that:- petitioner has already paid a sum of ₹ 5.00 crores pursuant to an interim order passed by this Court - while the writ petitions are dismissed as not maintainable on account of availability of alternative remedy, liberty is reserved to the petitione .....

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ls. - W P NOS 11719-11742/2015 (T-RES) - Dated:- 1-6-2015 - B. V. Nagarathna,J. For the Appellant : Shri K P Kumar, Sr Counsel For Shri T Suryanarayana, Adv For the Respondent : Shri T K Vedamurthy, HCGP JUDGMENT P.C. Petitioner is a company engaged in development of real estate. Petitioner has assailed re-assessment orders dated 27.2.2015 passed by the first respondent in respect of the assessment years 2010-11 (Annexure-D), 2011-12( Annexure-E) and also demand notices dated 27.2.2015, for the .....

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residential apartments on the land owned by GOKULAM SHELTERS PRIVATE LIMITED and share the proceeds for the sale of the units with GOKULAM SHELTERS PRIVATE LIMITED, ISKCON CHARITIES and INDIA HERITAGE TRUST in the specified ratio incorporated in the Joint Development Agreement. Petitioner has constructed the apartments and the apartments have been sold by the petitioner on the strength of the General Power of Attorney which have been executed in favour of the petitioner. Under the Karnataka Valu .....

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ed by the assessment orders passed by the first respondent, petitioner has filed these writ petitions while at the same time assailing Circular No.12/2009-10 dated 7.12.2009. According to the petitioner, the need to assail the said Circular has arisen on account of the fact that the assessing authority has applied the said Circular to the petitioner s case, whereas according to the petitioner, the said Circular is not applicable. 3. I have heard learned senior counsel for the petitioner and the .....

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s applied Circular dated No.12/2009-10 dated 7.12.2009 to the petitioner which is erroneous. He contended that the undivided interest in the project has been sold along with the constructed portion of the apartments to the intending purchasers and even in respect of the undivided interest in the land, the owners of the land have not been allotted any portion. Instead the owners of the land have only a share in the sale proceeds of the apartments sold by the petitioner to various purchasers. He t .....

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ese writ petitions are such that would have to be considered by the First Appellate Authority rather than in a writ petition. Merely because the Circular has been assailed in these writ petitions that would not imply that this Court would have to entertain writ petitions under Articles 226 and 227 of the Constitution of India. He contended that in case petitioners are aggrieved by the assessment orders, they have an alternative and efficacious remedy under Section 62 of the Act and therefore the .....

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dered by the First Appellate Authority. In the circumstances, learned Government Pleader contended that petitioner may be permitted to avail the alternative remedy. 6. I have considered these submissions in the light of the material on record. At the outset, it is no doubt true that as against re-assessment orders, there is an alternative and efficacious remedy of appeal available under Section 62 of the Act. However, learned senior counsel for the petitioner has strenuously argued that petition .....

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8. However, the learned Government Pleader contended that the Circular was squarely applicable to the petitioner s case. 9. In response, it was contended by the learned senior counsel for the petitioner that before giving a finding as to the applicability of the Circular in the instant case, what requires to be determined is the nature of transaction that has been entered into by the petitioner vis-a-vis the owner of the land on the one hand and the purchaser of the apartment on the other. Once .....

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