2010 (2) TMI 1308 - HC - VAT and Sales Tax

Summary

Issues involved: Compliance with remand order by First Appellate Authority and Tribunal, examination of contract between parties, determination of nature of transactions as stock transfers or otherwise.

In the present case, the High Court had previously passed an order remanding the matter to the First Appellate Authority to examine the contract between the parties. Subsequently, the First Appellate Authority rejected the appeal of the revisionist without properly examining the agreement dated 1.4.03 to determine whether the transactions were stock transfers or not. The Tribunal also dismissed the revisionist's second appeal without complying with the High Court's remand order. It was observed that neither the First Appellate Authority nor the Tribunal had fulfilled the High Court's order in its true spirit. Therefore, the High Court remanded the matter to the Tribunal for fresh consideration in accordance with the original remand order. The Tribunal was directed to decide the matter within three months from the date of presentation of the order and a certified copy was to be placed before the Tribunal within the next 15 days. Consequently, the revision was disposed of with these directions.