https://www.taxtmi.com/caselaws?id=406920 Input tax credit under the Karnataka Value Added Tax Act, 2003 cannot be denied to a purchasing dealer merely because the selling dealer was deregistered or failed to remit tax, where binding authority recognises that the buyer's credit does not fail solely on the seller's default. The Tribunal also accepted that the assessee had produced sufficient material to prove the genuineness and correctness of the purchases, thereby discharging the statutory burden. On that basis, the revision petition failed and the order granting input tax credit relief was sustained. en-us Thu, 08 Apr 2021 00:00:00 +0530 Mon, 26 Apr 2021 10:27:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406920 Input tax credit under the Karnataka Value Added Tax Act, 2003 cannot be denied to a purchasing dealer merely because the selling dealer was deregistered or failed to remit tax, where binding authority recognises that the buyer's credit does not fail solely on the seller's default. The Tribunal also accepted that the assessee had produced sufficient material to prove the genuineness and correctness of the purchases, thereby discharging the statutory burden. On that basis, the revision petition failed and the order granting input tax credit relief was sustained. Case-Laws VAT and Sales Tax Thu, 08 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406920