https://www.taxtmi.com/caselaws?id=363091 Retrospective cancellation of a selling dealer's registration does not, by itself, defeat a purchasing dealer's claim where the transaction is genuine. However, where the revenue establishes that the purchases were only paper transactions, with no actual movement of goods and no credible proof of payment or source of cheques, input tax credit and consequential tax and interest demands may be sustained. On the facts discussed, the demand was based on a finding of bogus billing and nongenuine purchases, not merely on later cancellation of the sellers' registrations. en-us Fri, 15 Jun 2018 00:00:00 +0530 Mon, 09 Jul 2018 08:21:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=363091 Retrospective cancellation of a selling dealer's registration does not, by itself, defeat a purchasing dealer's claim where the transaction is genuine. However, where the revenue establishes that the purchases were only paper transactions, with no actual movement of goods and no credible proof of payment or source of cheques, input tax credit and consequential tax and interest demands may be sustained. On the facts discussed, the demand was based on a finding of bogus billing and nongenuine purchases, not merely on later cancellation of the sellers' registrations. Case-Laws VAT and Sales Tax Fri, 15 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=363091