TaxTMI 
TaxTMI 
2016 (12) TMI 312
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....t petition is directed against order dt 7.5.2002 passed by the Rajasthan Tax Board, Ajmer, in appeal No.129/2002/Jaipur. It relates to assessment year is 1994-95. 2. The brief facts noticed are that the respondent assessee is a manufacturer and purchased raw material during the assessment year 1994-95 after paying full tax @ 4% and as per the Notification, claimed set off @ 2.5% on such purchases....
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.... by Notification dt 27.3.1995, ought not to have been considered by the Tax Board and both, the AO as well as DC(A) had applied the correct Notification. 5. Per contra, learned counsel for the respondent contended that the assessment was reopened on the basis of audit objection, which was not permissible and nothing was pointed out in the audit objection and even otherwise on merits the Circular ....
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....x, the sale of iron and steel to the extent to which the rate of tax in respect thereof exceeds 1.5% on the following conditions, namely :- (1) That such iron and steel is used as raw material in the manufacture of iron and steel within the State of Rajasthan. (2) That such manufactured iron and steel is sold within the State or in the course of inter- State trade or commerce; and (3) That suc....