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TMI Blog2019 (5) TMI 1176X X X X Extracts X X X X X X X X Extracts X X X X ..... r 2011-12, claiming the following substantial questions of law:- (i) Whether on the facts and circumstances of the case, Ld. Tribunal was justified in directing the appellant to deposit 25% of the tax inspite of the fact that appellant is incurring huge losses as is evident from the Balance Sheets and is not in a position to deposit the amount? (ii) Whether on the facts and circumstances of the case, the Assessing Authority was justified in reversing Input Tax Credit on account of purchase tax under Section 19(4) of the Punjab VAT Act on closing stock of wheat and rice? (iii) Whether on the facts and circumstances of the case, the Assessing Authority was justified in reversing Input Tax Credit on retention of bye products by the Ri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nal demand relating to tax and interest only. However, the appellant refused to deposit the same and accordingly, the DETC(A) dismissed the said appeal for noncompliance of provisions of Section 62(5) of the Act. Still dissatisfied, the appellant filed an appeal on 22.3.2017 (Annexure A-4) before the Tribunal. The Tribunal vide order dated 17.8.2017 (Annexure A-5) dismissed the said appeal for non-deposit of 25% of the additional demand of tax and interest only, However, the Tribunal granted two months' time to deposit 25% of the additional demand of tax and interest only, failing which the order of the DETC(A) was to remain intact. Hence, the present appeal. 3. Learned counsel for the appellant submitted that the Tribunal was not jus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ibunal had rightly dismissed the appeal on that account. 6. In the present case, the appellant was required to pre-deposit 25% amount of the additional demand of the tax and interest only as a condition precedent for hearing of the appeal, which was reasonable and justified. 7. No illegality or perversity could be pointed out by the learned counsel for the appellant in the findings recorded by the Tribunal which may warrant interference by this Court. No question of law arises in this appeal. Accordingly, finding no merit in the instant appeal, the same is hereby dismissed. 8. A prayer was made by the learned counsel for the appellant to grant some time for pre-deposit. However, in the interest of justice, we grant two months' tim ..... X X X X Extracts X X X X X X X X Extracts X X X X
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