- (1.) These two instant revision petitions relating to assessment years 1989-90 and 1990-91 are directed against the common order passed by the Rajasthan Tax Board, (in short 'Tax Board') who vide order dated 06/02/2002 in appeals No. 200/95/Jaipur and 201/95/Jaipur allowed the appeals of the respondent-assessee. Since the facts are common, therefore, both the revision petitions are being disposed of by a common order. These two revision petitions were admitted on 23/09/2002 on the following questions of law:-- (i) Whether in the facts and circumstances of the case, the Rajasthan Tax Board, Ajmer was justified in allowing the Appeal of the assessee without considering the facts, law and circumstances of the case. (ii) Whether in the facts and circumstances of the cases, the Rajasthan Tax Board, Ajmer was justified in interpreting the provisions of law. (iii) Whether in the facts and circumstances of the case, the Rajasthan Tax Board, Ajmer was justified in setting aside the tax and interest levied by the Assessing Authority on works contract. (iv) Whether in the facts and circumstances of the case, the Rajasthan Tax Board, Ajmer was justified in setting aside the tax and interest on excise duty. (v) Whether in the facts and circumstances of the case, the Rajasthan Tax Board, Ajmer was justified in reversing the findings given by the Dy. Commissioner (Appeals-II).
(2.) The brief facts as emerging on the face of record is that the respondent is a limited company and has been carrying on the business of Manufacturing/production of Railway Wagons, Cement Plant Machinery, Steel Structurals, Spare Parts etc.
(3.) The bone of contention in the instant revision petition is (1) whether tax is leviable in respect of interstate transfer of property in goods involved in execution of a works contract (2) whether CST is payable on the component of Central Excise paid on such transactions in the event of full reimbursement by the Central Government under its scheme of encouraging "deemed exports".;