Britannia Industries Ltd vs The Deputy Commissioner (Ct)-Iii (Fac) on 1 March, 2016
In the decision cited on the side of the petitioner in 2016-TIOL-489-HC-MAD-VAT (Britannia Industries Ltd v. the Deputy Commissioner (CT)-III (FAC), Chennai-8), the issue involved was to reverse the Input Tax Credit along with the consequential imposition of penalty by the Assessing Officer and the same was ultimately decided in favour of the Assessee, following the earlier judgment reported in 2013 (60) VST 283 (Mad) (Sri Vinayaga Agencies v. the Assistant Commissioner (CT), Chennai and another). For better appreciation, the relevant paragraphs of the said decision are extracted hereunder: