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2015 (8) TMI 901 - HC - VAT and Sales TaxInput tax credit – Cancellation of Registration certificate of the seller – Retrospectively – Petitioner/revenue challenging judgment and order of tribunal by which interest demanded and penalty imposed upon assesse was removed – Assesse challenges said judgment for entitlement of input tax credit since same was not granted on ground that registration of dealer/seller who had sold goods to assessee was cancelled with retrospective effect – Held that:- Tribunal had not committed any error in removing interest as well as penalty imposed upon assesse – It was undisputed fact that when assessee had purchased goods from dealer/seller, he was registered under provisions of VAT Act and subsequently, his registration was cancelled – Therefore assesse cannot be deprived of his right of getting credit of input tax available under provisions of VAT Act – Supreme court in State of Maharashtra v. Suresh Trading Company [1996 (2) TMI 451 - SUPREME COURT OF INDIA] observed that Whatever may be effect of retrospective cancellation upon selling dealer, it can have no effect upon any person who has acted upon strength of registration certificate when registration was current – Hence, cross objections allowed – Decided in favour of Assesse.
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