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The Supreme Court clarifies on the burden of proof for availing credit – Woe or Joy to taxpayers?

In the cases under appeal, the respondents were all purchasing dealers who had claimed credit on alleged purchases made from the respective dealers. The Assessing Officer in the matters under appeal, on appreciation of evidence, doubted the genuineness of the alleged purchases and denied the credit. The findings of fact recorded by the Assessing Officer came to be confirmed by the first Appellate Authority. However, the second Appellate Authority and the High Court allowed the credit, by observing that as the purchasing dealers produced the invoices issued by the respective dealers and that in some of the cases, they also made the payment through cheques, the Assessing Officer was not justified in denying the credit. Against the grant of credit, the Revenue appealed before the Supreme Court.

Source: Barandbench

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