Court Rules Tax Credit Disallowance Requires Proof of Unpaid Tax on Specific Goods, Not Just Purchase Percentages.

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....Pre-deposit - input credit of purchases from dealers having cancelled /abinitio Tin - to disallow tax credit on any purchase, it has to be established that it is in respect of the very goods purchased by a dealer that the tax has not been paid, it cannot be disallowed by working out the percentage of purchases - directed to hear the appeal on merits, without insisting pre-deposit....