https://www.taxtmi.com/caselaws?id=374922 The High Court ruled in favor of the assessee in a tax dispute case. The Court found the Appellate Tribunal's order lacking proper consideration of contentions and directed the Assessing Officer to reconsider the issue instead of referring it back to the Tribunal. In analyzing the application of the annual ratio for determining reverse tax, the Court emphasized the need for monthly computations due to varying ratios between taxable and non-taxable purchases. The Court instructed the Assessing Officer to compute input-tax credit monthly based on the reversals made by the assessee, ultimately ruling in favor of the assessee on all issues raised. en-us Tue, 03 Jul 2018 00:00:00 +0530 Wed, 13 Feb 2019 06:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374922 The High Court ruled in favor of the assessee in a tax dispute case. The Court found the Appellate Tribunal's order lacking proper consideration of contentions and directed the Assessing Officer to reconsider the issue instead of referring it back to the Tribunal. In analyzing the application of the annual ratio for determining reverse tax, the Court emphasized the need for monthly computations due to varying ratios between taxable and non-taxable purchases. The Court instructed the Assessing Officer to compute input-tax credit monthly based on the reversals made by the assessee, ultimately ruling in favor of the assessee on all issues raised. Case-Laws VAT and Sales Tax Tue, 03 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374922