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2011 (9) TMI 513 - HC - VAT and Sales TaxInput Credit on Stock Transfer - Assessee engaged in local as well as inter state purchases of LPG - Stock transferred assessees own depots outside Karnataka - Additional Commissioner restrict input deduction at 4% on stock transfers out of local purchases from HPCL - Held That:- Assessee maintained the records recording all transactions separately. No one has found fault with the records or the manner in which the records are maintained. When once the records are maintained is in accordance with law, its claim on the basis of the entries made in the records which is also in conformity with the circular issued by the Commissioner of Commercial Taxes, the benefit as claimed by the assessee cannot be denied. Further when case is decided on merit no cause for remanding the matter and setting aside the finding recorded by the Appellate Authority.
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