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2015 (5) TMI 29 - RAJASTHAN HIGH COURTDenial of Input tax credit - Sale of goods at the rate lower than the price shown in VAT invoice keeping in view the discount/incentive received - Held that:- Assessee-respondent received discount/incentives from the wholesaler/ manufacturer on account of turnover by way of credit notes etc. which was separately shown by the assessee and it is not in conflict under the VAT Act. The assessee managed his affairs in such a manner that he sold goods lower than the value as shown in VAT invoice obviously keeping in mind that discount/commission. The Tax Board after going into the material on record came to a factual finding that the input tax credit was rightly claimed by the assessee and there was no basis for deviation with the same. Act does not prohibit selling of goods lower than purchase value as per VAT invoice but ITC is to be allowed on the basis of VAT invoice. - both the appellate authorities have found that the claim of ITC was correct on the basis of VAT invoice and Tax Board has decided the controversy on the basis of factual finding - Decided against Revenue.
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