Antony Dominic, J.

1. The petitioner is an assessee under the Kerala Value Added Tax Act. These revision petitions are filed by them challenging the orders passed by the Kerala Value Added Tax Additional Appellate Tribunal, Palakkad in T.A.(VAT)Nos.80, 81 and 82 of 2014.

2. We shall briefly state the facts of these cases. In pursuance to the tenders invited by the Kannur Municipality for the development of Central Bus Terminal, Kannur, Annexure A Concession Agreement was entered into between the Municipality and the petitioner. As per Clause 3 of the agreement, subject to and in accordance with the terms and conditions set forth in the agreement, Kannur Municipality granted to the petitioner the exclusive right, license and authority during the subsistence of the agreement to implement the project, which expression is defined to mean, development, designing, engineering, procurement, construction, operation and maintenance of the Central Bus Terminal Complex including the project facilities and all works relating to and in respect of the said complex as described in Article 2 and Schedule A, on a Build, Operate and Transfer basis. The period of the Concession Agreement is 29 years and three months. The agreement provides that upon completion of the project and during the operation period, the petitioner shall manage and operate and maintain the terminal and regulate the use thereof by third parties. It also authorises the petitioner to collect and retain Licence fee, interest accrued on the refundable portion of the deposits and usage fees from the users of the commercial and parking space. Clause 3.1 to 3.3 in clause 3 of the agreement, providing for 'Grant of Concession' and Clause 7 dealing with the 'Concession Fee', being relevant, are extracted below for reference:

3. GRANT OF CONCESSION

3.1 Subject to an in accordance with the terms and conditions set forth in this Agreement, Kannur Municipality hereby grants to the Concessionaire and the Concessionaire hereby accepts the Concession including the exclusive right, license and authority during the subsistence of this Agreement to implement the Project.

3.2 The period of Concession shall commence from the Appointed Date and expire upon completion of 29 Years 3 months (Twenty Nine Years and Three Months) there from.

3.3 Subject to and in accordance with the terms and conditions set forth in this Agreement, the Concession hereby granted shall entitle the Concessionaire to enjoy, and oblige the Concessionaire to undertake the following in accordance with the provisions of this Agreement, the Applicable Laws and the Applicable Permits:

(i) to develop, design, engineer, procure, construct and maintain the Central Bus Terminal Complex and to operate the commercial and parking space;

(ii) upon completion of the Central Bus Terminal Complex and during the Operation Period to manage and operate and maintain the Central Bus Terminal Complex and regulate the use thereof by third parties;

(iii) to collect and retain the License fee, interest accrued on the refundable portion of the deposits and usage fees from the users of the commercial and parking space pursuant to this Agreement and the Fee Notification.

(iv) 35% of the deposits collected shall be treated as deposit premium, which shall be nonrefundable. The concessionaire can retain the non-refundable portion as the part of project revenue stream.

(v) The concessionaire shall be free to collect license fee and deposits at his own discretion but not less than the minimum amount, in aggregate, specified in the schedule K.

(vi) bear and pay all O&M expenses, costs and charges for the commercial and parking space and maintenance expenses.

(vii) to develop and/or sub-license the airspace over the Central Bus Terminal Complex for installation of hoardings in accordance with the rules and regulations imposed by the concerned local authority;

(viii) perform and fulfill all of the Concessionaire's obligations under this Agreement;