9911796707
TMI Blog2007 (4) TMI 230X X X X Extracts X X X X X X X X Extracts X X X X ..... ms of the amendments to Section 73 under Finance Act 2003 – held that notice under Section 73 could not have been resorted to by the Revenue for the purpose of recovery of tax not paid during the material period – assessee’s appeal allowed - ST/158-161, 163-167, 170-80, 182-206 & others - 126-221/2007-ST - Dated:- 18-4-2007 - S.S. KANG, VICE PRESIDENT and C.N.B. NAIR, MEMBER (TECHNICAL) In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... covery is not permissible even in terms of the amendments to Section 73 under Finance Act 2003. It is also being pointed out that this decision was taken up by the Revenue in appeal before the Hon'ble Supreme Court and the Supreme Court was pleased to dismiss the appeal. The contention of the ld. Counsel is that the issue is no more open in view of the judgment of the Hon'ble Supreme Court. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Industries . 5. We find that the Hon'ble Supreme Court had considered the effect of the amended legal position, in the appeal filed by the Revenue against the judgment of this Tribunal in the case of L.H. Sugar Ltd . and had ruled as under :- "We have heard counsel for the parties. 2. Learned counsel for the parties have drawn our notice to the relevant provisions of the Finance Act as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... accordingly dismissed. No order as to costs." 6. A perusal of the above judgment brings out that a notice under Section 73 could not have been resorted to by the Revenue for the purpose of recovery of tax not paid during the material period. This decision is directly on the dispute arising in these appeals and has to be followed by all the subordinate courts and tribunals. 7. In the res ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
