ITC cannot be claimed by mere filing of VAT Form 240 without filing of return

MFAR Constructions Pvt. Ltd. Vs Additional Commissioner of Commercial Taxes (Karnataka High Court)

Return is the basis on which the computation of tax liability has to be made including the input tax credit in terms of Section 10[3] and Section 10[4] of Karnataka Value Added Tax Act, 2003. It is not in dispute that no input tax credit has been claimed by the petitioners in any of the return filed during the relevant tax periods, merely on the audited statements filed by the Chartered Accountant/Cost Accountant/Tax Practition

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