https://www.taxtmi.com/caselaws?id=409499 Input tax credit cannot be reversed for loss of inputs that is intrinsic to the manufacturing process, because the statutory restriction on goods lost, stolen, destroyed, written off or given away applies to identifiable losses typically caused by external factors. Loss arising from consumption during manufacture stands on a different footing and is not the kind of loss covered by the provision. Treating the TNVAT restriction as in pari materia with the GST provision, the court applied the same construction and held that reversal of credit for manufacturing loss was unwarranted; the assessment orders were set aside to that extent in favour of the assessee. en-us Wed, 30 Jun 2021 00:00:00 +0530 Thu, 08 Jul 2021 17:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409499 Input tax credit cannot be reversed for loss of inputs that is intrinsic to the manufacturing process, because the statutory restriction on goods lost, stolen, destroyed, written off or given away applies to identifiable losses typically caused by external factors. Loss arising from consumption during manufacture stands on a different footing and is not the kind of loss covered by the provision. Treating the TNVAT restriction as in pari materia with the GST provision, the court applied the same construction and held that reversal of credit for manufacturing loss was unwarranted; the assessment orders were set aside to that extent in favour of the assessee. Case-Laws VAT and Sales Tax Wed, 30 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409499