RADHA METALS Vs. THE STATE OF TAMIL NADU

JUDGEMENT

(1.) THE revision is filed by the assessee against the order of the Tamil Nadu Sales Tax Appellate Tribunal (Additional Bench), Chennai dated 28.04.2000 and assessed in STA No. 533 of 1999.

(2.) THE levy of tax and penalty in respect of the premium received for transfer of REP licences is put in issue in this revision. The issue that the sale of REP licences is assessable to tax was settled by this Court as early as 04.04.1994 in the case of P.S. Apparels v. Deputy Commercial Tax Officer, 94 STC 139, wherein after hearing the counsel on either side, ultimately this Court held that REP licences/exim scrips are 'goods' in etymological sense and in common parlance as also within the meaning of Section 2(1) of the TNGST Act, 1959 and Section 2(d) of the CST Act, 1956. Having regard to the levy of penalty after hearing the counsel on either side, the Division Bench, in para 15 held that the respondents have made it known that the transactions of the nature under consideration are liable to be taxed at some point of time during the assessment years 1992 -93 and the various assessees had an opportunity to submit revised returns or pay tax due on the transactions in question. Consequently, the Division Bench has taken the view that the penalty, if any, could be leviable only from the assessment years 1992 -93 onwards and the respective assessing authorities shall consider the issue relating to the actual levy of penalty in individual cases depending upon the facts and circumstances of the case in accordance with law. This judgment has been confirmed by the Supreme Court in the case of Vikas Sales Corporation v. The Commissioner of Commercial Taxes : 102 STC 106.

(3.) THERE is absolutely no material whatsoever made available for us to take a different view, having regard to the dispute as to the taxability of the turnover or any genuine reason given by the assessee for non payment of the tax on that turnover prior to the framing of the assessment. Hence, we do not find any reason to entertain this tax case revision. The Tax case revision is dismissed.