TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Allahabad HC Upholds Input Tax Credit for D.E.P.B. Purchases</h1> The Allahabad HC dismissed the revision challenging the Tax Tribunal's order affirming the Assessee's entitlement to Input Tax Credit on purchases made ... Input tax credit - purchases made by it pursuant to D.E.P.B. licence - Held that:- The Division Bench in the case of JAGRITI PLASTICS LTD., N.F. IMPEX PVT. LTD. VERSUS COMMISSIONER OF TRADE & TAXES [2015 (10) TMI 291 - DELHI HIGH COURT] has held that D.E.P.B. scrips has contributed, if not directly then indirectly, to the price of imported commodity sold by the Assessee in the market - In the present case, the D.E.P.B. has been utilized to import the raw material and, therefore, the analogy has rightly been followed by the Tribunal in the facts of the present case also - The revision is, accordingly, dismissed. The Allahabad High Court dismissed the revision challenging the Commissioner Tax Tribunal's order, which affirmed the Assessee's entitlement to Input Tax Credit on purchases made pursuant to a D.E.P.B. license. The decision was based on a Delhi High Court judgment regarding the contribution of D.E.P.B. scrips to the price of imported commodities. The High Court held that the concurrent findings of the lower courts were not subject to review in revisional jurisdiction.
TaxTMI 
TaxTMI 
