SUPER TECH TOWNSHIP PROJECTS LIMITED Vs. COMMISSIONER

JUDGEMENT

(1.) Heard Sri Rakesh Ranjan Agrawal, learned senior counsel assisted by Sri Suyash Agrawal, learned counsel for the revisionist and Sri B.K. Pandey, learned standing counsel for respondents.

(2.) This revision under Sec. 58 of the U.P. VAT Act, 2008 relating to Assessment Year 2014-15 (U.P.) has been filed challenging the order dated 27.04.2018 in Second Appeal No.157 of 2018 passed by Member, Commercial Tax Tribunal, Bench-I, NOIDA whereby the stay order granted by First Appellate Authority has been partly modified.

(3.) Briefly stated facts of the present case that revisionist is a Company and is engaged in construction of flats and sale thereof. By the Assessment Order dated 24.02018, the Assessing Authority created tax demand of Rs. 7,18,25,904.00. After adjusting the input tax credit, a recovery of Rs. 75,27,681/- was sought to be made. The Revisionist preferred an appeal before the Additional Commissioner, Grade-2 (Appeal)-II Commercial Tax, NOIDA disputing the tax liability of Rs. 7,18,25,904.00. The First Appellate Authority stayed 6% of the disputed tax. Aggrieved with this order, the Revisionist preferred a Second Appeal No.157 of 2018 before the Tribunal who passed the impugned order staying 7% of the disputed tax which comes to Rs. 50,27,813.00. Thus the balance amount of Rs. 24,99,868/- has been required to be deposited by the revisionist. Aggrieved with the aforesaid order of the Tribunal, the Revisionist has filed the present Revision.