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TMI Blog2017 (3) TMI 1427X X X X Extracts X X X X X X X X Extracts X X X X ..... ) which had resulted in finalised assessments prior to enactment of the Act in force - Held that: - the petitioners are hereby allowed the relief in the sense that they are at liberty to deposit 25% of the demanded amount as a condition for pre-deposit - petition disposed off - decided partly in favor of petitioner. - W.P.(C) 274/2010 - - - Dated:- 16-3-2017 - MR. S. RAVINDRA BHAT MR. NAJMI W ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The petitioners have contended that such powers could not have been invoked in the peculiar circumstances of the case (with respect to past transactions) which had resulted in finalised assessments prior to enactment of the Act in force. The issue as urged was considered by the Full Bench of this Court which by its judgment reported as Dharam Pal Satya Pal Ltd. and Anr. v. Commissioner, VAT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... udicial to the Revenue has not been considered by the Tribunal and lastly that the pre-deposit directed, i.e. 50% is excessive in the circumstances. This Court is of the opinion that since there is a definitive ruling by the Full Bench ruling in Dharam Pal (supra) with respect to the revisional power and that it can be exercised in respect of past transactions, it would not be in the larger int ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deposit 50% of the differential amount is, however, modified. Instead, the petitioners are hereby allowed the relief in the sense that they are at liberty to deposit 25% of the demanded amount as a condition for pre-deposit. For this purpose, the petitioners are granted 8 weeks time. The Tribunal shall, after verifying compliance with these directions, proceed to hear and dispose off the appeals ..... X X X X Extracts X X X X X X X X Extracts X X X X
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