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2015 (3) TMI 1196 - GUJARAT HIGH COURT

2015 (3) TMI 1196 - GUJARAT HIGH COURT - [2015] 86 VST 88 (Guj) - Tribunal deleted the demand of interest and penalty - Adjustment of input tax credit towards the output tax liability for the assessment year in question - Gujarat Value Added Tax - Held that:- it is fairly conceded by Shri Chintan Dave, learned AGP appearing on behalf of the appellant that now the aforesaid question / issue is squarely covered against the Revenue in view of the decision of the Division Bench of this Court dated 1 .....

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ant Mr Manish Kaji, for the Respondent JUDGMENT Feeling aggrieved and dissatisfied with the impugned judgment and order passed by the learned Gujarat Value Added Tax Tribunal, Ahmedabad (hereinafter referred to as Tribunal ) in Second Appeal No.518/2012 insofar as deleting the interest and penalty of ₹ 28,160/and ₹ 1,56,404/respectively, the Revenue has preferred the present Tax Appeal. 2. At the outset it is required to be noted that while admitting the present Tax Appeal, the Divis .....

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ty of ₹ 28,160/and ₹ 1,56,404/respectively? 3. Learned advocates appearing on behalf of respective parties have jointly submitted that question No.1 framed while admitting the present Tax Appeal does not arise in the present Tax Appeal and as such through oversight and/or by mistake the said question of law has been framed. Under the circumstances, aforesaid question No.1 framed while admitting the present Tax Appeal is not answered as no such question arises in the present Tax Appea .....

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h of this Court dated 19.01.2015 in the case of State of Gujarat vs. Dashmesh Hydraulic Machinery rendered in Tax Appeal No.28/2015. 4.1 In the case of Dashmesh Hydraulic Machinery (Supra), in paras 6, 7 and 8, the Division Bench has observed and held as under: 6. We may record that this Court in the above referred Tax Appeal No.1284 of 2014 vide its decision dated 25.11.2014 had observed thus: 1. State is in appeal against the judgment of the Gujarat Value Added Tax Tribunal ( the Tribunal for .....

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udgment also held as under: The appellant has paid the amount of tax fully therefore, we are not disturbing the amount of carried forward ITC. The appellant is entitled to claim said ITC for next tax period. As stated above, the appellant is not liable to pay interest on tax demand as the ITC was first required to adjust against the current year liability as per the provision of rule 18 of the Rule. The appellant had sufficient balance of ITC to adjust against the additional tax liability, which .....

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