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TMI Blog2021 (4) TMI 599X X X X Extracts X X X X X X X X Extracts X X X X ..... RDER Heard the learned counsel on either side. 2.The petitioner is an exporter. The petitioner has been registered under the Tamil Nadu Value Added Tax Act with the respondent. The petitioner is entitled to refund of input tax credit for the exports effected by him. The petitioner's specific case is that while applying the invisible loss ratio under Section 19(9)(iii) of the Tamil Nadu Value ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t without honouring this specific mandate and without inspecting the petitioner's manufacturing process, the respondent chose to compute the invisible loss ratio at 5%. Therefore, the petitioner wanted this Court to direct respondent to make corresponding refund. 4.The petitioner had filed a rectification petition under Section 84 of the Tamil Nadu Value Added Tax. Since the same was rejected ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t therefore, they must re-work the assessment. Pursuant to the aforesaid direction, the respondent herein issued show cause notice to the petitioner herein. In response to the show cause notice given by the respondent, the petitioner had submitted letters on 17.08.2017 working out the invisible loss at 5%. The assessing authority accepted the quantum of loss arrived at by the petitioner and passed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich the petitioner himself has accepted the invisible loss ratio in his case at 5%. Of course, the petitioner's counsel would still insist that when a specific mandate has been issued by this Court that the assessing authority should examine the manufacturing process before arriving at invisible loss ratio and that the said mandate cannot be given go by by receiving a waiver letter from the p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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