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2017 (1) TMI 1117 - HC - VAT and Sales TaxReversal of ITC - sales invoices - whether mere failure on the part of the selling dealers in reporting corresponding sales, can be the basis of reversing the ITC claimed by the petitioner? - Held that: - The respondent, cannot reverse the ITC of a dealer, merely because, the selling dealer does not report the same. If, the Revenue find any discrepancy, it will have to be put to the petitioner and, only if, the purchasing dealer is unable to satisfy the Revenue, as regards the genuineness of the transaction, can any adverse orders be passed against the concerned dealer - reversal of credit not justified - petition allowed - decided in favor of assessee.
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