Denial of ITC due to cancellation of registration of supplier of goods with retrospective effect

ACIT Vs LGW Industries Limited & ors. (Calcutta High Court) Hon’ble Division Bench of Calcutta high Court has dismissed the appeal of the department vide its judgment dated 16th September, 2022 in a dispute relating to denial of Input Tax credit due to cancellation of registration of supplier of goods with retrospective effect. Hon’ble single bench of Calcutta High Court vide its judgment dated 13th December’2021 had held that if it is found upon considering the relevant documents that all the purchases and transactions in question are genuine and supported by valid documents and tra...