https://www.taxtmi.com/caselaws?id=356060 Under the TNVAT regime, a dealer whose turnover crossed the prescribed threshold during the year was not to continue under the concessional scheme for the full year, but could still claim input tax credit on purchases made from the beginning of the year, subject to the bar on time-barred credit relating to stock held on 31.12.2006. The assessee had filed Form I before the substituted proviso came into force, and the Commissioner's clarification was treated as binding on the assessing authority. On that basis, the assessment required reconsideration in light of the clarification, and the existing assessment could not be sustained without such review. en-us Tue, 09 Jan 2018 00:00:00 +0530 Sat, 24 Feb 2018 08:20:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356060 Under the TNVAT regime, a dealer whose turnover crossed the prescribed threshold during the year was not to continue under the concessional scheme for the full year, but could still claim input tax credit on purchases made from the beginning of the year, subject to the bar on time-barred credit relating to stock held on 31.12.2006. The assessee had filed Form I before the substituted proviso came into force, and the Commissioner's clarification was treated as binding on the assessing authority. On that basis, the assessment required reconsideration in light of the clarification, and the existing assessment could not be sustained without such review. Case-Laws VAT and Sales Tax Tue, 09 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356060