- (1.) We have heard Shri R.R. Agarwal, learned counsel for the petitioner.
(2.) This writ petition is directed against the show cause notice under Section 31 of the U.P. Valued Added Tax Act, 2008, by the Deputy Commissioner, Commercial Tax, Khand-3, Buland Shahar, on the ground that the Input Tax Credit (ITC) reversed by the petitioner under Section 14 (2) of the Act of Rs.4,17,054/- was to be deposited, along with 15% interest.
(3.) Shri R.R. Agarwal submits that there is no error in the assessment order. The Assessing Officer accepted the ITC brought from the last year adjusted it and computed the tax payable as per Section 15 (1), and 15 (1) (b) of the Act read with Rule 26 and 27 of the Rules. The consequential amount was paid by the petitioner along with interest. He submits that in view of Section 15 (1) and Section 15 (1) (b), the proviso to Section 14 (2) of the Act will not apply.;