ULTRA TECH CEMENT LIMITED Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) This revision petition is filed under Section 65(1) of the Karnataka Value Added Tax Act, 2003 (the 'Act' for short) challenging the judgment passed by the Karnataka Appellate Tribunal at Bangalore, Gulbarga Camp in STA No.963/2011 as regards disallowing input tax credit on capital goods at Rs.18,06,533/ -.

(2.) The petitioner is a registered dealer under the provisions of the Act and is engaged in the manufacture of cement and ready mix concrete and semi finished products being input to other cement manufacturing companies/units viz., clinker.

(3.) For the assessment year 2006 -07, the assessing authority after scrutinising the returns with reference to books of accounts and evidences produced by the petitioner concluded the reassessment proceedings under Section 39(1) of the Act disallowing input tax credit on the capital goods claimed at Rs.18,06,533/ -. The petitioner filed the application under Section 69(1) of the Act seeking rectification of the order of re - assessment passed under Section 39(1) of the Act. The assessing authority rejected the rectification application as no sufficient grounds were established. Being aggrieved by the said order and reassessment order, the petitioner preferred appeal before the First Appellate Authority. The First Appellate Authority confirmed the order passed by the assessing authority, dismissing the appeal filed by the assessee. Aggrieved by the same, the petitioner carried the matter before the Karnataka Appellate Tribunal, Bangalore. The Tribunal sitting at Gulbarga Camp dismissed the appeal confirming the orders passed by the authorities disallowing the input tax claimed on capital goods. Under these circumstances, this revision petition is filed.