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2017 (4) TMI 308 - HC - VAT and Sales TaxReversal of ITC - section 19(2)(v) - Interpretation of statute - Held that: - the issue involved in this writ petition in respect of ITC reversal u/s 19(2)(v) is covered by a recent decision of this Court in the case of M/s. Everest Industries Limited Versus The State of Tamil Nadu, The Deputy Commissioner (CT) (FAC) [2017 (3) TMI 279 - MADRAS HIGH COURT] where it was held that A plain reading of the provisions of sub-section (1) and sub-section (2) of Section 19 of the 2006 Act would show that, as long as specified goods, which suffer tax are used for any of the purposes set out in clauses (i) to (vi) of sub-section (2) of Section 19, the assessee should be able to claim the ITC, with a caveat in so far as clause (v) is concerned, and was decided in favor of petitioner - the matter is remitted back to the respondent for considering the above said issue afresh - appeal allowed by way of remand.
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