Whether the principal is entitled to take input tax credit even when the principal has not received the goods and directly sent to job worker by the vendor?

Yes. Section 19(2) and Section 19 (5) allows the principal to take input tax credit of goods not received by him, if the goods are sent directly to the job workers premises by the vendor.

(ICAI FAQ PUBLICATION 06-09-2017 -: ITC in respect of goods sent for job work: FAQ NO.34)