Common portal notice after GST registration cancellation was insufficient; physical service and hearing were required before adjudication could procee...
Disallowance on account of non- utilisation of loan - @ 14% of loan amount - there is nothing on the record that the assessee has diverted interest bearing borrowed funds by granting interest free loans to sister concern and even The turnover of the assessee was increase @ 17% - it cannot be concluded that the assessee used the working capital for other than business purpose - disallowance deleted
Disallowance on account of non- utilisation of loan - @ 14% of loan amount - there is nothing on the record that the assessee has diverted interest bearing borrowed funds by granting interest free loans to sister concern and even The turnover of the assessee was increase @ 17% - it cannot be concluded that the assessee used the working capital for other than business purpose - disallowance deleted
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