SUNDARAM FINANCE LIMITED Vs. STATE OF TAMIL NADU

JUDGEMENT

(1.) These eleven Tax Case (Revisions) are directed against the common order passed by the Tamil Nadu Sales Tax Appellate Tribunal dated 28.2.2011 in STA Nos.398 of 2006, 434 of 2006, 435 of 2006, 441 of 2006 , 442 of 2006, 443 of 2006, 444 of 2006, 445 of 2006, 448 of 2006, 476 of 2006 and 556 of 2006 relating to the assessment years 1986-87, 1987-88, 1989-90, 1990-91, 1991-92, 1992-93, 1993-94, 1994-95, 1996-97, 1995-96 and 1988-89 respectively under the Tamil Nadu General Sales Tax Act, 1959.

(2.) The petitioner/assessee is a non-banking Finance Company dealing in hire purchase and leasing transactions and is a registered dealer under the provisions of the Tamil Nadu Value Added Tax, 2006 and earlier under the Tamil Nadu General Sales Tax Act. The Assessing Officer passed individual assessment orders in respect of the relevant assessment years levying tax and penalty on the transactions relating to import-lease, inter-State lease and lease receipts for the lease agreements entered prior to 1.4.1986.

(3.) The First Appellate Authority by common order dated 28.9.2000 and 16.10.2000, set aside the assessment and remanded the case back to the Assessing Officer for fresh consideration on the ground that at the time when the Assessing Officer passed the assessment order, the Judgment of the Hon'ble Supreme Court in the case of 20th Century Finance Corporation Ltd and another Vs. State of Maharashtra, 2000 119 STC 182was not before the Assessing Officer. There was a further direction to the Assessing Officer to verify the nature of transaction in each case with reference to the details and documents produced by the assessee in support of their claim and decide the liability or otherwise of the transactions, applying the legal principles laid down by the Hon'ble Supreme Court in the case of 20th Century Finance Corporation Ltd and another Vs. State of Maharashtra, 2000 119 STC 182.