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2015 (6) TMI 1201 - MADRAS HIGH COURTReversal of ITC - the registration certificates of the sellers have been cancelled - TNVAT Act - HELD THAT:- When the purchases of goods from the these dealers were duly entered and reflected in the accounts and monthly returns filed, giving details of purchasers including the registration particulars, commodity code, value, rate of tax, amount of VAT and category of goods in the Annexure I of the said returns, the respondent, in the impugned orders, have not mentioned anywhere that the purchases of goods from the above dealers are doubtful or incorrect. That apart, the foundation upon which the respondent has passed the impugned orders clearly shows the reason that the certificates of registration of the dealers have been cancelled, reversal of ITC has to be effected against the petitioner. The said approach adopted by the Assessing Officer is contrary to the settled legal position - the impugned orders are liable to be set aside and accordingly, the same are set aside. Petition allowed.
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