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2014 (7) TMI 970 - RAJASTHAN HIGH COURTDenial of Input tax credit - Violation of section 18(1) of the Act of 2003 - Tax Board decided in favour of assessee - Held that:- Tax Board, by the impugned judgment and order, has recorded a categorical finding that the respondent-assessee has not violated section 18(1) of the Act of 2003 and input-tax credit has been rightly allowed to the assessee. The learned Tax Board has also concluded in clear and unequivocal terms that the assessee has already paid the requisite tax on the purchase price. The finding of the learned Tax Board is also clear and unequivocal that the assessee-trader has reduced the purchase by minimising the trade discount. The learned Tax Board has also examined the newly added section 18(3A) of the Act of 2003 which was enforced with effect from March 9, 2011 and concluded that the learned first appellate authority has not properly thrashed out the matter in the light of prevailing law on the subject, i.e., anterior to March 9, 2011 - there is no infirmity much less legal infirmity in the impugned order passed by the learned Tax Board and consequently no interference is warranted. Accordingly, Decided against Revenue.
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