https://www.taxtmi.com/caselaws?id=402655 Excess unabsorbed subcontractor payments were held deductible where the assessee produced the civil work agreement, purchase orders and subcontractor certificates, and the contrary Tribunal finding was perverse because it ignored the evidence. A company formed by conversion of a partnership under Part IX of the Companies Act, 1956 was treated as a continuation of the same business by operation of law, so fresh registration under the Karnataka Value Added Tax Act did not defeat carry forward of unabsorbed subcontractor payments accumulated during the partnership period. The Tribunal's reliance on the wrong statutory provision was rejected and the tax benefit was allowed. en-us Fri, 18 Dec 2020 00:00:00 +0530 Fri, 18 Jun 2021 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402655 Excess unabsorbed subcontractor payments were held deductible where the assessee produced the civil work agreement, purchase orders and subcontractor certificates, and the contrary Tribunal finding was perverse because it ignored the evidence. A company formed by conversion of a partnership under Part IX of the Companies Act, 1956 was treated as a continuation of the same business by operation of law, so fresh registration under the Karnataka Value Added Tax Act did not defeat carry forward of unabsorbed subcontractor payments accumulated during the partnership period. The Tribunal's reliance on the wrong statutory provision was rejected and the tax benefit was allowed. Case-Laws VAT and Sales Tax Fri, 18 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402655