Input tax rebate entitlement upheld where prior binding precedent governed transaction genuineness and supported the assessee's claim.

Input tax rebate was available where the challenge to the genuineness of transactions with the selling dealer was governed by an earlier Division Bench ruling on the same substantial questions of law. The appellate finding allowing the rebate was not disturbed. The substantial questions were answered against the Revenue and in favour of the assessee, confirming entitlement to claim input tax rebate.

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Issues: Whether the assessee was entitled to input tax rebate despite an alleged failure to prove the genuineness of transactions with the selling dealer.

Analysis: The substantial questions were governed by an earlier Division Bench decision on the same questions. The petitioner's challenge to the appellate finding allowing input tax rebate was therefore not accepted.

Conclusion: The assessee is entitled to claim input tax rebate; the substantial questions of law were answered against the Revenue and in favour of the assessee.

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