https://www.taxtmi.com/caselaws?id=332993 The court upheld the assessee's claim for Input Tax Credit (ITC) based on VAT invoices, despite goods being sold at a lower price than indicated on the invoices due to discounts. The Assessing Officer's disallowance of ITC was overturned by both Appellate Authorities. The court emphasized the consistent precedent that ITC is allowable as per the VAT invoice, regardless of the selling price. The dismissal of the Revenue's Special Leave Petition by the apex court further supported this stance. The court reiterated the importance of adhering to established legal positions and upheld the decisions, leading to the dismissal of all petitions. en-us Sat, 17 Sep 2016 00:00:00 +0530 Sat, 01 Oct 2016 13:12:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332993 The court upheld the assessee's claim for Input Tax Credit (ITC) based on VAT invoices, despite goods being sold at a lower price than indicated on the invoices due to discounts. The Assessing Officer's disallowance of ITC was overturned by both Appellate Authorities. The court emphasized the consistent precedent that ITC is allowable as per the VAT invoice, regardless of the selling price. The dismissal of the Revenue's Special Leave Petition by the apex court further supported this stance. The court reiterated the importance of adhering to established legal positions and upheld the decisions, leading to the dismissal of all petitions. Case-Laws VAT and Sales Tax Sat, 17 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332993