2022 (9) TMI 122 - HC - VAT and Sales Tax

Reversal of input tax credit (ITC) - period 2014-15 - Section 19(2)(v) of TNVAT Act, 2006 - HELD THAT - Issue decided in favour of the assessee by a recent decision of a Division Bench of this Court in the case of THE STATE OF TAMIL NADU REPRESENTED BY ITS SECRETARY COMMERCIAL TAXES DEPARTMENT, THE DEPUTY COMMISSIONER (CT) (FAC) VERSUS M/S. EVEREST INDUSTRIES LIMITED 2022 (4) TMI 1204 - MADRAS HIGH COURT where it was held that The position as regards section19(2)(ii) and the proviso inserted vide Act 28 of 2013 and its subsequent omission vide Amendment Act 5 of 2015 and the claim of refund, shall be examined - To that extent, the appeals filed by the State are partly allowed. Petition allowed.

Summary

The Madras High Court, with Hon'ble Dr. Justice Anita Sumanth presiding, set aside an order of assessment dated 29.03.2019 related to the reversal of input tax credit under the Tamil Nadu Value Added Tax Act, 2006. The decision favored the assessee based on a recent Division Bench ruling in the case of The State of Tamil Nadu and Another Vs. M/s.Everest Industries Limited (2022 (4) TMI 1204). The writ petition was allowed, and no costs were imposed.