2016 (7) TMI 120

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....es, total sales of Rs. 61.61 crores and purchases of Rs. 59.84 crores. Against purchases shown, the petitioner had claimed input tax credit of Rs. 2.98 crores. The Assessing Officer while examining such return, found that the petitioner had claimed to have purchased goods worth Rs. 5.104 crores during such period from Diamond Oil Industries Pvt.Ltd on which the petitioner had claimed input tax credit of Rs. 2.55 crores. The Assessing Officer tried to cross-check such sales made by Diamond Oil Industries, but did not receive reply from the assessing authority of the said seller. The Assessing Officer of the petitioner therefore, checked online returns filed by Diamond Oil Industries and found that ex-facie returns were replete with errors. H....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Merely because Diamond Oil Industries did not reflect its full sales to the petitioner in the tax returns, would not automatically imply that the petitioner had not made such purchases or not paid corresponding tax. 5. On the other hand, learned Assistant Government Pleader submitted that defects are glaring. The petitioner claimed to have made purchases from Diamond Oil Industries, whereas in the returns filed, Diamond Oil Industries has declared a total sale turn over of Rs. 24.38 crores including all sales made to the petitioner. The pre-deposit imposed by the first appellate authority and the Tribunal was therefore, just and proper. 6. The fact that Diamond Oil Industries had filed a return declaring total sale turnover of Rs. 24.38 c....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....802/- during the year 201-11 and issued Tax invoices and also charged VAT separately. The company had also received the payment of goods from M/s. Neel Oil Industries. The sales made to M/s. Neel Oil Industries Kadi were reflected in our books of account but due to oversight and clerical mistake of the accountant the company had shown less sales of Rs. 24.38,24,074/- while filing VAT returns of the company. 3. Our company had made genuine sales of Rs. 51,04,40,802/- to M/s. Neel Oil Industries and therefore we undertake to pay the VAT Tax liability if any on the transaction made with M/s. Neel Oil Industries in the assessment of the company. 4. The above stated facts are true and correct to my knowledge and belief. 5. I am aware that pre....