https://www.taxtmi.com/caselaws?id=767175 Input tax credit under the Karnataka Value Added Tax Act is a conditional statutory benefit, not a mere gratuity, and wrongful denial is justiciable once the prescribed legal conditions are met. The claim should ordinarily be made in the return or revised return, but a bona fide underclaim caused by application of the wrong tax rate may be rectified during pending reassessment where the foundational facts are already on record and the proceeding remains open. Reassessment must determine the correct tax position on both sides, so credit cannot be refused solely because its allowance is adverse to the State exchequer. en-us Mon, 03 Mar 2025 00:00:00 +0530 Wed, 12 Mar 2025 09:06:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767175 Input tax credit under the Karnataka Value Added Tax Act is a conditional statutory benefit, not a mere gratuity, and wrongful denial is justiciable once the prescribed legal conditions are met. The claim should ordinarily be made in the return or revised return, but a bona fide underclaim caused by application of the wrong tax rate may be rectified during pending reassessment where the foundational facts are already on record and the proceeding remains open. Reassessment must determine the correct tax position on both sides, so credit cannot be refused solely because its allowance is adverse to the State exchequer. Case-Laws VAT / Sales Tax Mon, 03 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767175