https://www.taxtmi.com/caselaws?id=362075 Input tax credit cannot be denied merely because the selling dealer failed to remit tax, where the purchaser is not shown to be at fault; the court set aside the credit denial on that basis. A stock-variation demand cannot be sustained without considering the assessee's objections, reconciliation statement, and supporting records, so the assessment was remanded for fresh consideration. Penalty and equal addition require recorded reasons and a basis showing culpability or mens rea; in the absence of such findings, the penal levy was set aside. en-us Mon, 11 Jun 2018 00:00:00 +0530 Wed, 19 Dec 2018 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362075 Input tax credit cannot be denied merely because the selling dealer failed to remit tax, where the purchaser is not shown to be at fault; the court set aside the credit denial on that basis. A stock-variation demand cannot be sustained without considering the assessee's objections, reconciliation statement, and supporting records, so the assessment was remanded for fresh consideration. Penalty and equal addition require recorded reasons and a basis showing culpability or mens rea; in the absence of such findings, the penal levy was set aside. Case-Laws VAT and Sales Tax Mon, 11 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362075