Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
HC allowed petitioner's challenge regarding CENVAT credit utilization, affirming that input tax credit electronic ledger represents a unified wallet with compartments for IGST, CGST, and SGST. The court referenced prior precedent emphasizing that tax credit eligibility should be assessed based on total wallet balance, not individual compartments. The 3rd respondent was directed to issue fresh orders within two months, consistent with the judicial interpretation, effectively resolving the inadvertent tax credit mismatch between GSTR 3B and GSTR 2A forms.
HC allowed petitioner's challenge regarding CENVAT credit utilization, affirming that input tax credit electronic ledger represents a unified wallet with compartments for IGST, CGST, and SGST. The court referenced prior precedent emphasizing that tax credit eligibility should be assessed based on total wallet balance, not individual compartments. The 3rd respondent was directed to issue fresh orders within two months, consistent with the judicial interpretation, effectively resolving the inadvertent tax credit mismatch between GSTR 3B and GSTR 2A forms.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
