2014 (8) TMI 511

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..... d by the Commissioner. This is also the view held by the Sales Tax Department and Income Tax Department. Therefore, we do not, prima facie, treat the profit earned by the appellants as consideration towards service rendered to NMDC - Therefore, there shall be waiver of predeposit of dues as per the impugned order and stay of recovery thereof till the disposal of the appeal - Stay granted. - ST/15 .....

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..... cumentation is made in the name of MMTC. There is no doubt that the documents and records were maintained in such a way that the transactions are on principal to principal basis. This can be gauged from the fact that the annual accounts, export documents, Income-tax returns, sales tax returns/assessment orders etc., displayed that iron ore was purchased from NMDC by MMTC for onward export. 2.2 .....

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..... ansactions between NMDC and the appellants are in the nature of sale purchase and this is recognized by the Sales Tax authorities of the State Government. The Income Tax Appellate Tribunal has also held that the transaction between NMDC and the appellants are in the nature of sales and accordingly held that the amount earned by the appellants cannot be treated as commission paid by NMDC and no T .....

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