1987 (9) TMI 392

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....ifferent assessment years, O.J.C. No. 281 of 1980 having been filed against the assessment made in respect of the assessment year 1978-79 and O.J.C. No. 282 of 1980 having been filed in respect of the assessment year 1977-78. Since common question of law is involved in both these writ petitions, they were heard together and are being disposed of by this common judgment.   2. The petitioner....

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....f Rs. 22,10,621.60 in producing M.S. bars, M.S. rounds and M.S. plates. The petitioner purchased the scrap iron by furnishing declarations in form No. XXXIV for the purpose of resale in Orissa. The assessing officer has come to the conclusion that the utilisation of the scrap iron for manufacturing M.S. rods, M.S. plates and M.S. bars and thereafter selling the finished products constitutes violat....

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....form No. XXXIV since the petitioner had purchased the iron and steel by furnishing the declaration and also sold the iron and steel and, therefore, there was no violation of the declaration given by the petitioner. This contention of the petitioner is based on the enumeration of iron and steel in entry No. 46 of the notification issued under section 5(1) of the Act prescribing different rates of s....

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....ates and sells the same, he does not commit any breach of the declaration given by him in form No. XXXIV and therefore, the second proviso to section 5(2)(A)(a)(ii) of the Act cannot be attracted. Following the aforesaid decision of this Court, we must hold that the assessing officer committed an error in applying the second proviso to section 5(2)(A)(a)(ii) of the Act and adding the value of the ....