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2016 (8) TMI 1440 - HC - VAT and Sales TaxCancellation of Form-C - bonafide transactions - Form-C were cancelled on the ground that the dealers were found to be bogus entities at a particular point of time - HELD THAT:- On this issue in identical circumstances, this Court in JAIN MANUFACTURING (INDIA) PVT. LTD. VERSUS THE COMMISSIONER VALUE ADDED TAX & ANR. [2016 (6) TMI 304 - DELHI HIGH COURT] has held that retrospective cancellation of Form-C issued to the dealers covering periods where genuine transactions were covered by such Form-C as well as suspect period cannot be sustained. The Court had, therefore, set aside the cancellation of Form-C - with retrospective effect - in respect of the transactions when the dealers actually operated with valid registrations. Petition allowed - decided in favor of petitioner.
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