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TMI Blog2016 (11) TMI 495X X X X Extracts X X X X X X X X Extracts X X X X ..... gricultural Co-operative Marketing Federation of India Ltd., registered under the provisions of the Multi State Co-operative Societies Act, 2002 [in short the 'Act']. It is stated that the main objects is to organize, promote and develop marketing, processing and storage of agricultural, horticultural and forest produce, distribution of agricultural machinery, implements and other inputs, undertake inter-state, import and export trade, wholesale or retail as the case may be and to act and assist for technical advice in agricultural production for the promotion and the working of its members, associates and co-operative marketing, processing and supply societies in India. 2 (ii) Petitioner is one of Nodal Agencies of the Government ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8, was Rs. 384.82 crores and the petitioner is liable to pay tax at 4%. Hence, there was a proposal to revise the assessment in the said Notice. Though other issues were also pointed out in the said notice, the same having been now remitted to the Assessing Officer for fresh consideration, the only issue which is agitated in this Writ Petition is with regard to the sale of imported Peas. 4. The petitioner on receipt of the show cause notice dated 16.02.2015, submitted that with regard to the sale of imported Peas, the limit of Rs. 300/- crores available is exclusively for the commodity Peas and Peas dhall including broken, husk and dust thereof. In this regard, reference was made to Entry No.67 of Part B of the Fourth Schedule, which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... em arose only for one assessment year, and for all other subsequent assessment years, i.e. after 2007-08, the monthly returns filed by the petitioner have been accepted. 9. One more interesting fact which has to be pointed out is that in terms of Entry 68, the sale of Peas and grams which have been listed out under the said Entry which are twelve in number, the threshold limit is Rs. 500 crores in a year. Therefore, looking at the case from both the angles, the impugned assessment order made by the respondent, stating that the petitioner has exceeded the threshold limit of Rs. 300 crores limit is not sustainable in law. 10. Accordingly, the Writ Petition is allowed and the impugned order is quashed. No costs. Consequently, connected Misce ..... X X X X Extracts X X X X X X X X Extracts X X X X
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