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Input tax credit to be paid back on cancellation of dealer’s registration if evidence of sale not furnished
Case Law Details
- Case Name
- State Tax Officer Vs Arunachala Impex Pvt Ltd (Madras High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Madras High Court
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State Tax Officer Vs Arunachala Impex Pvt Ltd (Madras High Court)
Madras High Court held that input tax credit availed and utilised is required to be repaid back on cancellation of registration in case was no evidence of sale. Accordingly, order set aside and remitted back to the file of AO.
Facts- The respondent have filed monthly returns for the month of February -2015 under TNVAT Act and CST Acts in Form I and Form 1 respectively .
A scrutiny of the returns for the month of February-15, it was found that they have availed ITC to a tune of Rs.98,30,251/- on a purchase turnover of Rs.6,77,94,...
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