https://www.taxtmi.com/caselaws?id=233351 Input tax credit validly availed on purchases from registered dealers cannot be reversed merely because the selling dealers' registration certificates were later cancelled retrospectively. Where the purchaser bought taxable goods, paid tax, and claimed credit on the strength of invoices and registration certificates that were valid at the time of sale, the retrospective cancellation affects the selling dealer but does not unsettle the buyer's accrued statutory benefit. Section 19(15) of the Tamil Nadu VAT Act cannot be applied to defeat completed transactions where the purchasing dealer acted on a subsisting registration certificate. The challenge to the notices and assessment orders succeeded. en-us Thu, 22 Nov 2012 00:00:00 +0530 Mon, 07 Jul 2014 17:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233351 Input tax credit validly availed on purchases from registered dealers cannot be reversed merely because the selling dealers' registration certificates were later cancelled retrospectively. Where the purchaser bought taxable goods, paid tax, and claimed credit on the strength of invoices and registration certificates that were valid at the time of sale, the retrospective cancellation affects the selling dealer but does not unsettle the buyer's accrued statutory benefit. Section 19(15) of the Tamil Nadu VAT Act cannot be applied to defeat completed transactions where the purchasing dealer acted on a subsisting registration certificate. The challenge to the notices and assessment orders succeeded. Case-Laws VAT and Sales Tax Thu, 22 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233351