https://www.taxtmi.com/caselaws?id=386440 Input tax credit reversal on sale of tax-free goods was upheld where the revisional authority's prorata formula had already been affirmed by the Tribunal, and the assessee could not reopen that issue in the present appeal. The challenge to input tax credit on opening stock was also held not maintainable because that objection should have been raised in first appeal, not in revisional proceedings or this appeal. The Court dismissed the appeal on those grounds, while leaving open the substantial questions of law concerning inclusion of opening and closing stock and specified purchases in gross turnover for proportional reversal, and the treatment of statutory ambiguity. en-us Mon, 23 Sep 2019 00:00:00 +0530 Sat, 28 Sep 2019 07:45:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386440 Input tax credit reversal on sale of tax-free goods was upheld where the revisional authority's prorata formula had already been affirmed by the Tribunal, and the assessee could not reopen that issue in the present appeal. The challenge to input tax credit on opening stock was also held not maintainable because that objection should have been raised in first appeal, not in revisional proceedings or this appeal. The Court dismissed the appeal on those grounds, while leaving open the substantial questions of law concerning inclusion of opening and closing stock and specified purchases in gross turnover for proportional reversal, and the treatment of statutory ambiguity. Case-Laws VAT and Sales Tax Mon, 23 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386440