SURYA PRAKASH KESARWANI,J. - (1.) Heard Sri A.C. Tripathi, learned Standing counsel for the Department/revisionist and Sri Lokesh Mittal, learned counsel for the respondent-assesse.
(2.) This revision has been filed on the following question of law: "Whether on the facts and in the circumstances of the case Commercial Tax Tribunal was legally justified in accepting the claim of input tax credit under the U.P. Value Added Tax Act raised by the dealer opposite party on usage of D.E.P.B. Skips license while making custom duty on the imported goods?"
(3.) Briefly stated facts of the present case are that for the Assessment Year 2011-12 the Assessing Authority accepted the purchase and sale as disclosed by the assessee but refused to allow Input Tax Credit on D.E.P.B. Licence purchases amounting to Rs. 54,74,123/-. On the aforesaid purchases against tax invoices, value added tax amounting to Rs. 2,73,705/- was paid. The claim of the assessee for Input Tax Credit (for short "ITC") was not allowed by the assessing authority by the Assessment Order dated 5.3.2014.;