https://www.taxtmi.com/caselaws?id=751152 Input tax credit could not be reversed where official records showed purchase of coffee seeds, payment of output tax by the supplier, and undisputed movement of goods. The Revenue's challenge based on alleged non-genuineness of the sale failed because the supplier was registered and assessed by the department, and its later deregistration operated retrospectively only after the relevant assessment year. The HC held that speculative doubts about the transaction, without contrary record evidence, were insufficient to deny credit. Reversal of input tax credit was therefore unsustainable and the question of law was answered in favour of the assessee. en-us Tue, 09 Jan 2024 00:00:00 +0530 Tue, 09 Apr 2024 08:18:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751152 Input tax credit could not be reversed where official records showed purchase of coffee seeds, payment of output tax by the supplier, and undisputed movement of goods. The Revenue's challenge based on alleged non-genuineness of the sale failed because the supplier was registered and assessed by the department, and its later deregistration operated retrospectively only after the relevant assessment year. The HC held that speculative doubts about the transaction, without contrary record evidence, were insufficient to deny credit. Reversal of input tax credit was therefore unsustainable and the question of law was answered in favour of the assessee. Case-Laws VAT and Sales Tax Tue, 09 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751152