BANSAPANI IRON LTD. Vs. STATE OF ODISHA

JUDGEMENT

(1.) The present revision has come to be filed seeking to challenge an order dated 03.03.2015 passed by the Sales Tax Tribunal in S.A. No.243(V) of 2013-14, by which order, the appeal filed by the present petitioner-M/s. Bansapani Iron Ltd. on the scope, applicability and retrospectivity or otherwise of the amendment to Section 2(8) of the OVAT Act, 2004 and in particular, the definition of the terms "Capital Goods" came to be rejected holding the same to be prospective in nature and cross-appeal filed by the Revenue was disposed of accordingly.

(2.) Learned counsel for the petitioner while assailing the order of the Tribunal, inter alia, raised various issues and in particular, raised question as to whether the Tribunal was legally justified to hold that the amendment of Section 2(8) of the OVAT Act, 2004 was available prospectively with effect from the appointed date i.e. 01.06.2008 and not retrospectively as claimed by the petitioner.

(3.) Admittedly, Section 2(8) of the OVAT Act, 2004, prior to its amendment stood as follows: