TaxTMI 
TaxTMI 
2015 (3) TMI 1196
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....atisfied with the impugned judgment and order passed by the learned Gujarat Value Added Tax Tribunal, Ahmedabad (hereinafter referred to as "Tribunal") in Second Appeal No.518/2012 insofar as deleting the interest and penalty of Rs. 28,160/and Rs. 1,56,404/respectively, the Revenue has preferred the present Tax Appeal. 2. At the outset it is required to be noted that while admitting the pre....
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....versight and/or by mistake the said question of law has been framed. Under the circumstances, aforesaid question No.1 framed while admitting the present Tax Appeal is not answered as no such question arises in the present Tax Appeal. 4. Now, so far as the substantial question No.2 i.e. whether on the facts and in the circumstances of the case, the Gujarat Value Added Tax Tribunal, Ahmedabad....
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....Added Tax Tribunal ('the Tribunal' for short) proposing following questions for our consideration: "(1) Whether Tribunal erred in deleting levy of interest and penalty merely because assessee had excess input credit adjustable against tax demand? (2) Any other substantial question of law as may be deemed fit by the Hon'ble High Court may kindly be framed." 2. From the record, it emerges ....
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....unal, it appears that though the assessing officer had raised additional tax demand of Rs. 76,010/and imposed interest and penalty on such basis, the Tribunal was of the opinion that the assessee had sufficient Input Tax Credit and those tax credits could have been adjusted against the assessee's additional assessed tax liability. That being the position, the Tribunal correctly held that the inter....