Non-Payment of VAT on Repossessed Vehicle Sale, Asserting DVAT Act Exemption, Not Deemed Concealment: Delhi HC

HDFC Bank Limited Vs Commissioner of Value Added Tax (Delhi High Court)

HC held that Regard must be had to the fact that the non-payment of tax on the sale of repossessed vehicles is not alleged even by the respondents as being an outcome of “concealment, omission or a failure to disclose all material particulars”. The appellant chose not to deposit any tax in respect of the subject transactions proceeding on the assertion that the revenues obtained therefrom were not exigible to tax under the provisions

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