TNVAT: Excess ITC at year end has to be refunded, No adjustment against Future liability

Tvl. M. R. Motor Company Vs Assistant Commissioner (CT), (FAC) (Madras High Court)

The issue under consideration that whether the Department was justified in disallowing the refund of claim on the ground that the petitioner was still in business and was adjusting the amount regularly?

The petitioner is a dealer of Motor Vehicles who had claimed a refund of excess Input Tax Credit and requested the respondent to refund a sum being accumulated as Input Tax Credit. The respondent has rejected the refund

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