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TMI Blog2016 (9) TMI 924X X X X Extracts X X X X X X X X Extracts X X X X ..... noted, provides for the imposition of penalty where a dealer or any other person as the case may be falsely or fraudulently claims an amount as input tax credit. The dispute itself emanates from certain purchases of iron and steel alleged to have been made by the revisionist during the Assessment Year 2007-08. It appears that during the course of survey, the department came to hold that M/s. Kamdhenu Traders, the selling dealers of the revisionist, was neither registered to engage in the business of sale of iron and steel nor had they produced any documentation of sale effected by it. On the basis of the said report of survey team, the Deputy Commissioner, issued a notice to the revisionist to show cause as to why penalty be not imposed up ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... own or have been aware of the fact that M/s. Kamdhenu Traders was not registered for the purposes of effecting sale of iron and sale. It also took notice of the fact that the tax invoices in question carried the TIN number and other particulars of the selling dealer. It was in view of the above state of the record, that the first appellate authority proceeded to annul the penalty which had been levied upon the revisionist. The appeal of the department has come to be allowed by the Tribunal which has held that in a survey undertaken on 6 August 2006, it was found that M/s. Kamdhenu Traders were not engaged in the business of sale of iron and steel. On this basis alone, the Tribunal proceeded to affirm the levy of penalty holding that the as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Similarly if upon verification it is found that the transportation bills are genuine, they would tend to establish that an import of iron and sale was effected by the revisionist. This and other aspects connected and based upon the material which had been filed by the revisionist before the first appellate authority has clearly escaped consideration by the Tribunal. For the aforesaid reasons noted above, this Court is of the view that the facts and circumstances of the case would merit a remand of the matter to the Tribunal for decision afresh and in light of the observations made hereinabove. This revision is accordingly allowed. The order dated 12 January 2011 of the Tribunal is hereby set aside. The matter shall stand remanded to the T ..... X X X X Extracts X X X X X X X X Extracts X X X X
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