9911796707
TMI Blog2023 (9) TMI 1005X X X X Extracts X X X X X X X X Extracts X X X X ..... nput tax credit - HELD THAT:- The appellant shall deposit Rs. 50 lakhs within a period of 15 days from today and Rs. 50 lakhs shall be deposited before 31.10.2023 and Rs. 1 crore before 30.11.2023 with the respondent instead of bank guarantee - The appellant shall also file an undertaking to the aforesaid effect before this court within a period of one week from today - The appellant shall tender ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Gujarat Value Added Tax Act, the appellant has challenged the common order dated 05.05.2023 passed by the Gujarat Value Added Tax Tribunal (for short the Tribunal ) in Second Appeal No. 53 to 55 of 2022 whereby the appellant is subjected to pay pre-deposit of Rs. 11,34,53,111/- for the assessment years 2015-16, 2016-17 and 2017-18. 2. The facts of the case are that the assessment order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... alleged circular transactions due to which the input tax credit was disallowed in the assessment order. 3. Mr. Tushar Hemani, learned Senior Counsel appearing for the appellant submitted that the Tribunal, without considering the prima facie case of the appellant, has directed the appellant to deposit Rs. 11,34,53,111/- towards pre-deposit. It was submitted that the appellant is a listed limite ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amount as per the impugned order passed by the Tribunal. 4. Ms. Shrunjal Shah, learned AGP appearing for the respondent submitted that the appellant may be relegated to the First Appellate Authority in view of the aforesaid submissions and subject to filing of undertaking, bond and amount of Rs. 2.00 crores may be deposited instead of furnishing bank guarantee as agreed upon by the appellant as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the First Appellate Authority as the First Appellate Authority has dismissed the appeals of the appellant without going into the merits. The matter is therefore remanded to the First Appellate Authority. (e) On deposit of the aforesaid amount, the First Appellate Authority shall decide the appeals by the appellant within 90 days from the date of deposit i.e. on or before 29.02.2024. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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