https://www.taxtmi.com/caselaws?id=329196 Input tax credit restrictions for invisible manufacturing loss cannot rest on an arbitrary percentage; a proper factual inquiry into the actual loss and the statutory conditions is required before reversal. The treatment of furnace oil used as an input in manufacture must be examined on its own factual and statutory basis, rather than by relying on a different context involving loss, damage or destruction, so the matter requires fresh consideration. Reversal linked to inter-State sales without C forms must also conform to the revisional authority's year-wise direction, and the assessing order cannot stand independently where that direction governs the issue. en-us Mon, 13 Jun 2016 00:00:00 +0530 Fri, 24 Jun 2016 16:13:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329196 Input tax credit restrictions for invisible manufacturing loss cannot rest on an arbitrary percentage; a proper factual inquiry into the actual loss and the statutory conditions is required before reversal. The treatment of furnace oil used as an input in manufacture must be examined on its own factual and statutory basis, rather than by relying on a different context involving loss, damage or destruction, so the matter requires fresh consideration. Reversal linked to inter-State sales without C forms must also conform to the revisional authority's year-wise direction, and the assessing order cannot stand independently where that direction governs the issue. Case-Laws VAT and Sales Tax Mon, 13 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329196