https://www.taxtmi.com/caselaws?id=249747 Input tax credit on goods destroyed in a flood cannot be denied merely because the goods were not sold, resold or used in manufacture, where compliance with the statutory condition became impossible due to an act of God. The principle of lex non cogit ad impossibilia was applied to construe the restriction so that impossibility did not defeat credit entitlement. Any insurance reimbursement for the destroyed goods must, however, be adjusted against the credit, because the dealer cannot obtain a double benefit. The dealer was therefore entitled to input tax credit, subject to reduction of the insurance compensation received. en-us Fri, 06 Dec 2013 00:00:00 +0530 Tue, 22 Jul 2014 18:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249747 Input tax credit on goods destroyed in a flood cannot be denied merely because the goods were not sold, resold or used in manufacture, where compliance with the statutory condition became impossible due to an act of God. The principle of lex non cogit ad impossibilia was applied to construe the restriction so that impossibility did not defeat credit entitlement. Any insurance reimbursement for the destroyed goods must, however, be adjusted against the credit, because the dealer cannot obtain a double benefit. The dealer was therefore entitled to input tax credit, subject to reduction of the insurance compensation received. Case-Laws VAT and Sales Tax Fri, 06 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249747