https://www.taxtmi.com/caselaws?id=381864 A bona fide purchasing dealer who paid tax to registered sellers and held valid invoices was entitled to input tax credit; the seller's later failure to remit tax was not a condition precedent to the purchaser's claim. The Court distinguished genuine purchases from bogus transactions and held that, where the seller defaults, the Revenue's remedy lies against the seller rather than the purchaser. It also held that subsequent deregistration of the selling dealer does not defeat credit for earlier qualifying purchases, though post-deregistration purchases would not qualify. The reassessment orders and demand notices were set aside and the matter was remitted for fresh consideration after hearing. en-us Mon, 17 Jun 2019 00:00:00 +0530 Thu, 22 Aug 2019 12:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381864 A bona fide purchasing dealer who paid tax to registered sellers and held valid invoices was entitled to input tax credit; the seller's later failure to remit tax was not a condition precedent to the purchaser's claim. The Court distinguished genuine purchases from bogus transactions and held that, where the seller defaults, the Revenue's remedy lies against the seller rather than the purchaser. It also held that subsequent deregistration of the selling dealer does not defeat credit for earlier qualifying purchases, though post-deregistration purchases would not qualify. The reassessment orders and demand notices were set aside and the matter was remitted for fresh consideration after hearing. Case-Laws VAT and Sales Tax Mon, 17 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381864