M/S Basant Oils PVT. LTD. vs. The Commissioner, Commercial Taxes
Held
The Tribunal failed to adjudicate on the issue of reversal of input tax credit, rendering its order contrary to law. The denial of input tax credit on undisclosed purchases was also found to be against the law.
Facts
The assessee's assessment for 2012-13 included additions to undisclosed purchases and turnover of manufactured mustard oil. The assessee disputed the reversal of input tax credit on intra-state purchases and the denial of input tax credit on undisclosed purchases.
Key Issues
Whether the Tribunal was justified in not dealing with the plea of reversal of input tax credit and whether the assessee was wrongly denied input tax credit on undisclosed purchases.
Sections Cited
Section 5, Section 13 (12)
AI-generated summary — verify with the full judgment below
Court No. - 7 Case :- SALES/TRADE TAX REVISION No. - 276 of 2018 Applicant :- M/S Basant Oils Pvt. Ltd. Opposite Party :- The Commissioner, Commercial Taxes Counsel for Applicant :- Shubham Agrawal Counsel for Opposite Party :- C.S.C. Hon'ble Saumitra Dayal Singh,J.
The present revision has been filed by the assessee for the assessment year 2012-13 (U.P.) under the U.P. VAT Act, 2008 (hereinafter referred to as "the Act"). The following two questions have been pressed by the learned counsel for the revisionist :- "i. Whether the Tribunal was justified in passing the impugned order without dealing with the question of reversal of input tax credit raised or the plea raised that no reversal of input tax credit under rule 22(2) of U.P. VAT Rules could be done on the consignment sale of the bye product? ii. Whether the Tribunal was justified in imposing the tax both on the undisclosed purchases and undisclosed sales being made by the applicant, without giving the benefit of input tax credit for the undisclosed purchases having been made by the applicant which is in teeth of section 5 of the Act read with the judgment/decision of this Hon'ble Court in the case of Deep Murmura Products
The judgment continues below.
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