TaxTMI 
TaxTMI 
2017 (7) TMI 3
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.... on the ground that an alternative remedy, by way of appeal, was available to the Assessee. 2. In order to adjudicate upon the appeal, the following broad facts are required to be noticed. 2.1. For the Assessment Year (A.Y.) 2013-14, the Assessee reported total turnover of Rs. 6,02,71,144/- and taxable turnover, which was quantified at the same amount. 2.2. It appears that the Enforcement Wing of the Revenue, on 03.09.2014, conducted an audit, whereupon, discrepancies were noticed, purportedly, in the returns filed by the Assessee under the Tamil Nadu Value Added Tax Act, 2006 (in short, 'TNVAT Act'). Accordingly, the Revenue served a notice dated 04.12.2014 on the Assessee, in which, proposals were made to levy tax, on acc....
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....e Assessee, apparently, also argued that at least, with respect to two (2) aspects of the Assessment Order, i.e., aspects which related to the purported wrong claim of ITC on the purchases effected from dealers, who had not reported the transaction in their returns and the alleged wrong claim of ITC on purchases effected from dealers whose registration certificates had been cancelled, stood covered by two (2) separate judgements of the Division Bench of this Court; these being : judgement dated 09.09.2016, passed in W.A.No.775 of 2016, titled: The Assistant Commissioner (CT) V. M/s.Infiniti Wholesale Ltd., and the judgement rendered, in the matter of: Assistant Commissioner (CT), Broadway Assessment Circle, Chennai V. Bhairav Trading Compan....
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.... 24695536 Penalty due @ 100% on Rs. 8776640 under section 27(4)(ii) of the TNVAT Act 8776640 Tax/ITC Reversal Penalty u/s 27(3) Penalty u/s 27(4) Due 25240331 24695536 8776640 Paid 117284 Nil Nil Balance 25123047 24695536 8786640 8. A perusal of the aforementioned table would show that tax/ITC has been reversed under seven (7) heads and penalty has been separately calculated for suppression of taxable turnover and incorrect/wrong claim of ITC. 8.1. In so far as the suppression of taxable turnover is concerned, penalty has been pegged at Rs. 2,46,95,536/-, while in so far as the wrong claim of ITC is concerned penalty is crystallised at....
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....e aspects referred to against serial Nos.1 and 6 of the table extracted above. 8.5. According to us, both aspects are no longer res integra, in so far as this Court is concerned. 9. In Infiniti Wholesale Ltd case, a Division Bench of this Court has held that merely because the selling dealer has not disclosed the transaction in his monthly return that cannot by itself furnish a cause to seek tax or reversal of ITC from the purchasing dealer. Similarly, in respect of the other aspect, that is, the impact of de-registration of selling dealer, the Division Bench of this Court in Bhairav Trading Company case, has come to the conclusion that it cannot lead to reversal of ITC or levy of tax on the Assessee. 9.1. Besides the aforesaid jud....