Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Provisional attachment - blocking of Input Tax Credit (ITC) - Now, no longer that grievance continuous in wake of order of the Coordinate Bench dated 04/05/2022. Moreover, as fairly admitted, this is a pre SCN stage in post search period and hence, unlimited period also would not be warranted. - The State has volunteered that this inquiry/investigation should be over in three months’ period but to be on safer side, we would grant four months’ period to the State to complete the present exercise, so that it may not have to once again approach for extension. - HC
Provisional attachment - blocking of Input Tax Credit (ITC) - Now, no longer that grievance continuous in wake of order of the Coordinate Bench dated 04/05/2022. Moreover, as fairly admitted, this is a pre SCN stage in post search period and hence, unlimited period also would not be warranted. - The State has volunteered that this inquiry/investigation should be over in three months’ period but to be on safer side, we would grant four months’ period to the State to complete the present exercise, so that it may not have to once again approach for extension. - HC
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