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Soundararaja Mills Limited Versus The Commercial Tax Officer

2017 (9) TMI 1047 - MADRAS HIGH COURT

Jurisdiction - sale of a going concern - exemption u/s 2(41) of the TNVAT Act, 2006 and the CST Act, 1956 - Held that: - The effect of the slump sale agreement dated 05 October, 2009, and the question relating to the acceptance of the unregistered slump sale agreement by the Income Tax Department are all matters to be considered on facts. The appellant miserably failed to plead and prove that the issue revolves on the jurisdictional matter alone and the same does not require adjudication by the .....

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lant, impugning the assessment order dated 16 May, 2014 on the file of the Commercial Tax officer-II, Dindigul. 2. The appellant is an assessee on the file of the respondent. The appellant appears to have sold its Wind Mill division as a going concern. Since the appellant was of the view that the sale of a going concern would not be liable for payment of tax, which is eligible for exemption, as provided under Section 2(41) of the Tamil Nadu Value Added Tax Act, 2006 and the Central Sales Tax Act .....

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the Writ Petition with a clear finding that the matter requires adjudication of facts and as such, the proper remedy is to file appeal. The order is under challenge in this intra- Court appeal. 5. The learned counsel for the appellant contended that the appellant raised a pure question of law before the Writ Court as to whether the closure of one line of business, namely Wind Mill division would amount to transfer of business as a whole eligible for deduction as a turnover as per Explanation II .....

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ul. The appellant was also engaged in the generation of electricity by installing the Wind Mills in Tirunelveli District. The appellant sold the Wind Mill as a going concern. The appellant was under the impression that disposal of the Wind Mill as a going concern would qualify the Company for exemption under Section 2(42C) of the Income Tax Act, 1961 and as per Explanation III to Section 2(41) of the Tamil Nadu Value Added Tax Act, 2006. 8. The premises of the appellant was raided by the Enforce .....

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ondent on 06 November, 2012 and 25 March, 2013, for which, objections were given by the appellant. The appellant appears to have furnished the details to the assessing authority pursuant to the notices referred to above. 9. The respondent issued a revised revision notice dated 21 February, 2014, initiating a proposal to levy tax for the disposal of the Wind Mill division as a whole. The respondent, after giving personal hearing to the appellant, passed the assessment order dated 16 May, 2014. 10 .....

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