LARSEN AND TURBO LIMITED Vs. STATE OF ORISSA

JUDGEMENT

(1.) Heard Mr. S. Mohanty, learned counsel for the Petitioner and Mr. D. Beura, learned Additional Standing Counsel for the Revenue Department-Opposite Parties.

(2.) This writ petition has been filed by the Petitioner-M/s. Larsen and Toubro Limited seeking two reliefs. One is a challenge to the re-assessment order dtd. 31/3/2007 passed by the Sales Tax Officer (STO), Jagatsinghpur Circle, Paradeep under Sec. 12 (8) of the Orissa Sales Tax Act, 1947 (OST Act) for the year 2001-02. The other is a challenge to Sec. 5(2)(AA)(i) of the OST Act as it did not prescribe a method to compute the taxable sale price.

(3.) The background facts are that during the year 2001-02, the Petitioner in its return disclosed a gross turnover of Rs.16,44,90,014.00 and a taxable turnover of Rs.4,43,62,976.00. It filed a revised annual return for the aforementioned year on 20/1/2004, disclosing a gross turnover of Rs.15,85,64,493.00 and a taxable turnover of Rs.1,85,55,030.00. This was as per the bills raised in the year 2001-02 against Paradeep Port Trust (PPT) for a sum of Rs.8,87,27,001.00 and invoices against Paradeep Refinery Project (PRP), of Indian Oil Corporation Limited (IOCL) for a sum of Rs.6,95,97,542.00.