9911796707
TMI Blog2013 (7) TMI 209X X X X Extracts X X X X X X X X Extracts X X X X ..... ce of ₹ 3986.48, which is of no great significance to the department & the petitioner's current stock worth is ₹ 72,56,480/is under attachment. As it is not pointed out by the respondent that there was any discrepancy in the physical stock and stock reflected in register, at the time of spot visit the provisional attachment is required to be lifted subject to petitioner maintaining cer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ded Tax Act, 2006 ('VAT Act' for short). Under such order, the respondent No.2 has provisionally attached the bank account and the petitioner's stock of brass scrap in which the petitioner is dealing with, pending assessment of the petitioner's liability to pay Value Added Tax with interest and penalties. 2. Learned counsel for the petitioner submitted that the powers under Sect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... relying on cancellation of registration of some of the dealers from whom the petitioner has purchased such goods to deny the tax credited thereof to the petitioner. He submitted that all purchases were made prior to the cancellation of registration and therefore, such denial is completely unjustified. 3. On the other hand, learned AGP Mr. Jaimin Gandhi for the respondents opposed and contended ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wing factors in mind. (1) That as pointed out, the petitioner's bank account has balance of ₹ 3986.48, which is of no great significance to the department. (2) Currently, the petitioner's stock worth ₹ 72,56,480/is under attachment. (3) It is not pointed out by the respondent that there was any discrepancy in the physical stock and stock reflected in register, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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