https://www.taxtmi.com/caselaws?id=763356 Input tax credit on capital goods used in bleaching of fabric could not be denied merely because the activity was said not to amount to manufacture. The processing of fabric fell within the statutory concept of processing under the TNVAT Act, 2006, and the Tribunal's view that the assessing authority lacked adequate material to reverse credit was upheld. On that basis, the claim for input tax credit was sustained and the reversal of credit was held unsustainable. en-us Thu, 28 Nov 2024 00:00:00 +0530 Thu, 19 Dec 2024 08:47:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763356 Input tax credit on capital goods used in bleaching of fabric could not be denied merely because the activity was said not to amount to manufacture. The processing of fabric fell within the statutory concept of processing under the TNVAT Act, 2006, and the Tribunal's view that the assessing authority lacked adequate material to reverse credit was upheld. On that basis, the claim for input tax credit was sustained and the reversal of credit was held unsustainable. Case-Laws VAT / Sales Tax Thu, 28 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763356