P.K.Jain, J. - (1.) Both these revisions arise out of the common judgment of the Sales Tax Tribunal, Moradabad, whereby Second Appeal No, 650 of 1990 of the revisionist was partly dismissed by the Tribunal and Second Appeal No. 798 of 1990 of the Revenue was partly allowed by the Tribunal and the order of the assessing authority was restored. Since identical questions of law are involved in both the revisions, the same have been heard together and are being decided by a common judgment.
(2.) The revisionist is a company registered under the Companies Act, 1956, and is engaged in the manufacture, and sale of vinyl acetate monomer and intermediary products like acetic acid, acetic anhydride and acetaldehyde (hereinafter called as "the notified goods"). The company has its registered office as well as works located at Bhartiagram, Gajraula, District Moradabad (now Jyotibafulenagar). The revisionist is a registered dealer in the State of U.P. both under the Sales Tax Act and under the Central Sales Tax Act for manufacture of notified goods. The company uses molasses purchased locally from within the State of U.P. as basic raw material besides various other chemicals. With effect from May 14, 1980 the revisionist was granted recognition certificate under Sub-section (2) of Section 4-B of the then U.P. Sales Tax Act, 1948 for purchase of molasses, one of the raw materials on the concessional rate of tax at the rate of 4 per cent
(3.) The present dispute relates to the assessment years 1982-83 and 1983-84. For its entire purchases of molasses from within the State of U.P. in the above assessment years the revisionist furnished declaration in form III-B. Other chemicals purchased for production of the notified goods were purchased on payment of normal sales tax. Out of the entire products for the assessment years under consideration the revisionist transferred the goods out of the State on consignment basis as mentioned below : For the assessment year 1982-83 ... Rs. 1,08,88,399.98For the assessment year 1983-84 ... Rs. 29,80,803.75;