2025 (9) TMI 540

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....e aforesaid revision was admitted by this Court vide order dated 17.05.2019 on the following questions of law:- "1. Whether the Tribunal is legally justified in enhancing the turnover by the difference of the sale rate being lower than the purchase rate without any adverse material on rcord or suppression or evasion found and in conflict with various judgments such as CST vs. Saurashtra Chemicals, CST vs. Hazari Lal & Sons and CTT vs. Lucky Bartan Store passed by this Hon'ble Court? 2. Whether the Tribunal is legally justified in ignoring the provision of Sectin 13(1)(f) of U.P. VAT Act, 2008, which provides the proportionate grant of input tax credit in cases where the sale rate is lower than the purchase rate but no ....

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....(f) of the UP VAT Act which provides that in case the goods are sold at a price lower than its purchase value, the amount of ITC shall be claimed and be allowed to the extent of tax payable on the sale value of goods. In support of his submissions, he has placed reliance on the judgement of this Court in CST Vs. M/s Saurashtra Chemicals [NTN 1996 AHC - 1]. Per contra, learned ACSC supports the impugned order. After hearing learned counsel for the parties, the Court has perused the record. It is not in dispute that the books of account of the revisionist has been accepted and no discrepancy, whatsoever, has been found in the same. The authorities have disputed the average selling rate disclosed by the revisionist and on the said pre....