2012 (7) TMI 1008

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... JUSTICE B.MANOHAR For the Appellant : Sri G. Kamaladhar, Advocate For the Respondent : Sri Ramabhadran, Advocate J U D G M E N T The Respondent is the assessee and had purchased bio gas and furnace. The sale invoice discloses the value of the said equipment at Rs. 50,00,000/- each. The assessee had purchased the said equipment by taking finance from Kotak Mahindra and hire purchase ag....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ion that the assessment deserves to be set aside and to be done afresh. We accordingly, set aside the assessment an d direct the Assessing Officer to examine the issue afresh namely - (a) Whether the sale value of the bio gas plants and flameless furnace as per the sole invoice is assessed in the hands of supplier at the same value as has been done in the sale invoice. If it is so assesse....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ping these two aspects in view, we direct the Assessing Officer to re-do the assessment afresh by giving the assessee sufficient opportunity of hearing. For statistical purpose the appeal is treated as allowed. " 3. It is the contention of the State in appeal that the observations made would make the Assessing Officer to accept the value stated in the sale invoice as binding and that t....