Case Law Details
CA Koduri Jitendra Babu
In an important judgement in the case of Sri Anjaneya Agro Tech Private Limited Vs. The Dy. Commissioner of Commercial Taxes (Audit) [2016-VIL-63-KAR], Hon ‘ble High Court of Karnataka has ruled that assessee-dealer is entitled to claim benefit of a subsequent judgement of the court, even after completion of assessments, by filing rectification application.
The assessee has claimed partial input tax credit on the belief that he is not entitled to input tax credit on the exempted by-products produced during the process of manufacture of edible oils. Assessments for the periods April 2006 to March 2010 were completed. Subsequently, Hon ‘ble High Court of Karnataka in the case of M.K. Agro Tech Private Limited Vs. State of Karnataka, [2014 (18) KLJ1 = 2015-VIL-57-KAR] held that when an assessee is in the business of manufacture of only one product, namely, oil and which is liable to tax, merely because in the process of manufacture of oil, certain by-product arises, which is sold and which is exempted from tax, that would not attract provisions of Section 17 of the KVAT Act relating to partial rebate.
Based on the above judgement, the assessee-dealer filed rectification application, seeking grant of full ITC. Department rejected the claim, as usual, on the ground that the benefit cannot extended since the assessments were completed and the State has challenged the judgement of the High Court before Supreme Court.
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dear sir can you please provides the PDF copy of the judgement