2016 (12) TMI 757

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....ndent : Mr. S. Kanmani Annamalai ORDER Since the issue involved in these Writ Petitions is identical in nature, they have been taken up together and disposed of by this common order. 2. The petitioner is a registered dealer on the file of the respondent/Assistant Commissioner (CT) (FAC), under the provisions of Tamil Nadu Value Added Tax Act, 2006 (TNVAT Act) and Central Sales Tax Act, 19....

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.... for ITC has been reversed on the ground that the ITC claimed on the capital goods is not eligible to be refunded to the dealer/petitioner, and restricted the claim of refund, by estimating 5% of the purchase value to be 'Invisible Loss' and 1% of the Export sales turnover to be 'Visible Loss'. Challenging the same, the present Writ Petitions are filed. 3. The learned Additional....

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....aler to satisfy the Assessing Authority that the claim is not hit by any of the restrictions or conditions contained under Section 19 of the VAT Act. In this regard, it is essential for the Assessing Authority to embark upon the fact finding exercise to ascertain the quantum of loss of the goods which were purchased on which tax was paid vis-a-vis the goods manufactured from and out of the goods p....

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....set aside. However, liberty is granted to the concerned Assessing Officer to issue appropriate show cause notices to the petitioners clearly setting out under what circumstances they propose to revise or call upon the petitioner to reverse refund sanctioned and after inviting objections proceed in accordance with law. (5) The undertaking given by the dealer in Form W is with regard to inf....