TMI Blog2015 (11) TMI 1004X X X X Extracts X X X X X X X X Extracts X X X X ..... said cessation for the Assessment Years in question, the High Court [2010 (6) TMI 18 - BOMBAY HIGH COURT] has rightly held that one of the requirements for the applicability of Section 41(1)(a) of the Act had not been fulfilled in the present case. - Decided in favour of assessee. - Civil Appeal No. 10873 of 2011, Civil Appeal No. 10874 of 2011 - - - Dated:- 4-11-2015 - A. K. Sikri And Rohinto ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... emission/cessation of liability u/s 41(1)(a), even though Maharashtra Sales Tax Tribunal had granted the liberty to the assessee to take credit for payment of sales tax after filing proper documents. The aforesaid issue arose in the following circumstances: The assessee has set up a unit at District Raigad in Maharashtra which is a notified area. By virtue of packaged incentives scheme by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gh Court by way of the impugned judgment. We may note that the main contention of the respondent-assessee herein before the High Court was that the principal requirement for the applicability of Section 41 of the Act is that the assessee must obtain a benefit in respect of a trading liability by way of a remission or cessation thereof. He argued that in the present case, there was no cessation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rant credit of the payment made by the assessee to SICOM towards discharge of the deferred sales tax liability. As a matter of fact, on 22 nd July 2008 a notice of demand was issued under Section 38 of the Bombay Sales Tax Act of 1959 to the assessee by the Deputy Commissioner of Sales Tax, Navi Mumbai in the total amount of ₹ 1,33,13,555/-. Having regard both to the order passed by the Sale ..... X X X X Extracts X X X X X X X X Extracts X X X X
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