The Supreme Court has ruled that genuine buyers cannot be denied Input Tax Credit just because the seller failed to deposit tax or lost registration. This landmark decision under DVAT sets a strong precedent for GST cases too, ensuring fairness and protecting honest taxpayers.

In a landmark ruling, ITAT Ahmedabad has held that penalty under Section 271C of the Income Tax Act is not applicable for delayed remittance of TDS, provided the tax was deducted and paid with interest. This decision, based on Supreme Court precedent, offers relief to taxpayers facing procedural delays.