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2016 (6) TMI 987 - KARNATAKA HIGH COURTRestriction in input tax credit - deduction of input tax in excess of 2% of the tax - KAT - returns were to be discarded and the re-assessment was to be undertaken - Held that:- It is hardly required to be stated that even if the return of the assessee is discarded resulting in a process of re-assessment, the Assessing Officer further needs to examine the permissibility of the input credit and if permitted, then to what extent. While considering the said aspects, the Assessing Officer had to also examine as to whether a claim be submitted including restricted claim, if any, deserved to be accepted or not. It is a different matter that for valid reasons, he may discard such a restricted claim too. But in any case, it was obligatory on his part to record the reasons. Order set aside - Matter remanded back.
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