https://www.taxtmi.com/caselaws?id=770298 The AP HC ruled that a retrospective amendment to Rule 20(2)(n) denying ITC for coolers purchased in 2004-05 was invalid, as vested rights cannot be taken away retrospectively without justification. The court held that beneficial legislation should be construed to advance its policy rather than curtail benefits. However, the court denied ITC on glass bottle breakages sold as scrap, finding these were not used in manufacturing another product but merely for storage. The revision was allowed partly - ITC was granted for coolers and refrigerators but denied for glass bottle breakages. en-us Wed, 07 May 2025 00:00:00 +0530 Fri, 09 May 2025 09:12:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770298 The AP HC ruled that a retrospective amendment to Rule 20(2)(n) denying ITC for coolers purchased in 2004-05 was invalid, as vested rights cannot be taken away retrospectively without justification. The court held that beneficial legislation should be construed to advance its policy rather than curtail benefits. However, the court denied ITC on glass bottle breakages sold as scrap, finding these were not used in manufacturing another product but merely for storage. The revision was allowed partly - ITC was granted for coolers and refrigerators but denied for glass bottle breakages. Case-Laws VAT / Sales Tax Wed, 07 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770298