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TMI Blog2016 (6) TMI 1192X X X X Extracts X X X X X X X X Extracts X X X X ..... registration of the selling dealer would not result into automatic denial of input tax credit of assessee as a purchaser. The Tribunal has made certain observations in the impugned judgement raising doubt about the very genuineness of the transactions which prima facie did not form part of the original assessment proceedings. The appellant shall deposit 10% of the principal tax demand exclusiv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... emand came to ₹ 1,43,15,548/. The central issue for addition was disallowing input tax credit for the purchases made by the assessee from one Arihant Pharmaceuticals whose registration was cancelled with effect from 1.10.2006. Case of the assessee was that the purchases were genuine; that the input tax credit cannot be denied; the registration of the selling dealers was cancelled on account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Rules, the input tax credit of the purchaser dealer cannot be denied. 3. On the other hand, learned AGP Shri Vora for the department relied on the decision of this Court in case of Madhav Steel Corporation v. State of Gujarat , order dated 12.12.2013 passed in Tax Appeal No.742/2013 and connected matters to contend that there are different facts in each case and order passed by the Tribun ..... X X X X Extracts X X X X X X X X Extracts X X X X
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