Input Tax Credit Reversal Ruling: Madras HC Sets Aside Assessment Order, Allows Writ Petition Without Costs.

The HC of Madras ruled in favor of the petitioner in a writ petition concerning the reversal of input tax credit following registration cancellation. Relying on precedents from the SC and a Division Bench of the Madras HC, the impugned assessment order was set aside, and the writ petition was allowed without costs.

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The High Court of Madras, with Honourable Dr. Justice Anita Sumanth presiding, ruled in favor of the petitioner in a writ petition regarding the reversal of input tax credit due to the cancellation of registration. The decision was based on previous rulings by the Apex Court and a Division Bench of the Madras High Court. The impugned order of assessment was set aside, and the writ petition was allowed with no costs.

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