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TMI Blog2012 (7) TMI 858X X X X Extracts X X X X X X X X Extracts X X X X ..... eed to dispose of the revision after hearing the Government Pleader. 2. The dealer filed the annual returns in form 10 showing the total sales turnover above Rs. 40,00,000/- for the year 2008-2009. On verification of the returns and Books of Accounts, it was found that certain purchases have not passed through the regular Books of Accounts maintained by the dealer and that certain excess invoices were noticed for the year. It was proposed to reject the claim of Rs. 11,542.78 and Rs. 17,436.22 as input tax credit respectively for the months of February and March 2009. The OTRV No.22/12 proceedings were taken under section 25 of the Act, which deals with "assessment of escaped turnover". Best judgment assessment was made by adding unaccounte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en away. Mandate of section 22(4) of Value Added Tax Rules, 2005, it was held, could not override the provisions of section 42(2). Rejection of input tax credit was also remanded to the Assessing Authority with the observation that the same is allowable on submission of purchase bills subject to the stipulation in the Act and Rules and also on there being evidence to the effect that consignors have reported the sales to the Assessing Authority and accounted the transaction. The assessee then was held to be entitled to the benefit of input tax credit. In such circumstances, the issues were remanded for consideration by Assessing Officer. The question of law raised by the State regarding input tax credit does not arise from the order of the T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... prescribed by every dealer whose turnover exceeds Rs. 40,00,000/-. By sub section (2) it is also stipulated that where any dealer detects any mistake in the annual returns with reference to the audited figures he shall file a revised annual return along with audited certificate. Section also provides for payment of such tax, interest due thereon and penal interest calculated as per section 31 of the Act. The proviso to the section also stipulates that any dealer against whom penal action is initiated, shall not be granted the said benefit of filing revised returns in respect of such omission or mistake, upon which penal action is initiated. Notice under section 25 definitely will not amount to penal action. Hence the proviso will not be be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing Officer was that "Books of Accounts are under audit and revised return as contemplated under section 42 (2) of the Act shall be filed along with audit report" ('sic'). Evidently there is no revised return filed before the passing of Annexure -A. The Tribunal also did not make any effort to find out whether such revised return had been filed before the date in which assessment was concluded under section 25 of the Act. OTRV No.22/12 Going by the findings of the Tribunal it has to be assumed that the revised return under section 42(2) of the Act was filed by the time the case reached the Tribunal. In any event the date of filing such return will not be relevant since the omission was not one detected with reference to audited figu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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